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| 正面描述 | Oval vignette at center bearing the Coat of Arms of Paraguay, flanked at left by a vignette of a Gaucho figure. The denomination numeral '5' appears in the upper corners, with the issuing authority and promise-to-pay legend in letterpress across the face. Manuscript signature of Carlos A. López appears at center right. |
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| 背面描述 | The reverse is unprinted, showing plain paper with show-through of the obverse design visible in mirror image, consistent with the thin paper stock used for this early Paraguayan issue. |
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Paraguay in 1862 was operating under Francisco Solano López, who had assumed power the previous year following the death of his father Carlos Antonio. The country remained almost entirely isolated from external trade and foreign capital, and its currency was printed domestically — a direct consequence of that deliberate insularity. The Tesoro Nacional notes of this period are among the few examples of South American paper money produced entirely within the issuing country at this date, without recourse to European security printers.
The watermark is the primary security measure, modest by contemporary standards but notable given the local production constraints.