Watch List notes:

Paraguay, Republica del Paraguay, provisional 1 peso, 14-7-1903, serial 381641, with black oval overprint dated 11-1-1912, PCGS VF 30, finest and only known example in the PCGS census. SCWPM-unlisted. A very rare discovery piece with bold 1912 overprint on the front of a 1903-dated 1 peso fuerte. Prior to seeing this note, the 2 pesos with overprint was the smallest denomination known for this provisional series; thus, the Standard Catalog currently has no classification number for this type. Modestly circulated with minor stains in the upper margin, very bold overprint and signatures.

Estimate: $200 - $400