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5 Pesos Fuertes Caja de Conversión
| Issuer | Caja de Conversión del Paraguay |
|---|---|
| Year | 1907 |
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| Value | Log in to see details |
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| Printer | American Bank Note Company, New York, United States |
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| Obverse description | Black intaglio on yellow and orange underprint. Central vignette presents a panoramic view of the city of Asunción as seen from the river. The face bears the principal text legend across the lower portion, with the denomination stated in words within the inscription. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Printed in brown. The coat of arms of the Republic of Paraguay is contained within a circular medallion at left, surrounded by the country name in a curved legend. The face value in numerals appears to the right. |
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| Comments |
Paraguay's Caja de Conversión was established in 1907 specifically to stabilize the peso fuerte after decades of postwar monetary chaos — the country had not fully recovered economically from the War of the Triple Alliance, which ended in 1870 and left Paraguay demographically and financially devastated. The conversion house issued notes backed, in theory, by gold and foreign exchange reserves, though in practice those reserves were thin from the outset.
ABNC engraving is typically crisp on first-issue examples; later printings of this series are known to show plate wear on the fine-line border work.