Paraguay Tesoro Nacional De La Republica 3 Pesos ND (1856) Pick UNL Contemporary Counterfeit PMG Choice Very Fine 35. A scarce counterfeit example, with an intriguing tale of deception at the inception of paper currency in Paraguay. In 1856 Benito Hortelano was based in Buenos Aires, and had managed to ingratiate himself with some of the printer's of the city who had influence over the recent banknote production for the Republic of Paraguay. So, together with a forger Juan Moreno and the printers at hand, Hortelano set out to forge this 3 Peso. Alas, their plan was foiled and the note was never issued. The guilty men were charged and extraditions were ordered from Argentina. As punishment, Moreno was ordered to round up all the counterfeit 3 Peso bills and to pay the difference as a fine for the ones he could not locate. In 1860, El Tesoro Nacional ordered a new design of currency with updated security features to avoid any of the counterfeits to make it into circulation. This example is historically important and rare. Previously mounted.

HID09801242017

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