5 Soles de Oro Overprinted on P#48

Pick 56 is a transitional issue — the Banco Central de Reserva del Perú applied an overprint to existing Pick 48 stock rather than commissioning a new plate, a stopgap that reflected the administrative complications of Peru's monetary reorganization following the central bank's formal establishment in 1931. The overprint method was common practice for the BCR during the early-to-mid 1930s as it worked through inherited note inventory while standardizing its own series.

ABNC-printed Peruvian notes of this period are frequently found with ink oxidation along fold lines, a known characteristic of the paper stock used for the underlying Pick 48 base notes.