4 Céntimos Countermark over Argentine Confederate 4 Centavos 1854

Following the catastrophic War of the Triple Alliance (1864–1870), Paraguay was left economically gutted — an estimated 60–70% of the male population dead, and virtually no monetary infrastructure intact. With no capacity to strike new coinage, the provisional government resorted to countermarking foreign copper already in circulation. Argentine Confederation 4 Centavos pieces from 1854, themselves a short-lived issue discontinued after Buenos Aires rejoined the confederation, were the available stock. The "4C" punch converted them into Paraguayan legal tender by administrative decree alone.

The host coin's own issuing authority had ceased to exist by the time Paraguay restruck it.