50 Centésimos Law of Aug. 14th., 1935

The Law of August 14th, 1935 authorized a new series of low-denomination notes for Uruguay at a moment when the country was still managing the economic fallout from the Great Depression and the aftermath of the Gabriel Terra coup of 1933, which had fundamentally restructured the republic's financial institutions. The Banco de la República Oriental del Uruguay — itself a state bank rather than a private central bank — had long relied on De La Rue for quality production it could not match domestically.

Pick 27 is among the smaller-denomination survivors of this series. Low-value notes in active circulation tend to dissolve; the 50 Centésimos was working paper, not savings.