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<p>[QUOTE=&quot;Michael K, post: 2666207, member: 78298&quot;]Wiki sort of explains it:</p><p>The <b>peso</b> was the currency of <a href="https://en.wikipedia.org/wiki/Paraguay" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Paraguay" rel="nofollow">Paraguay</a> between 1856 and 1944. It replaced the <a href="https://en.wikipedia.org/wiki/Paraguayan_real" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Paraguayan_real" rel="nofollow">real</a> at a rate of 8 reales = 1 peso. Until 1870, the peso was subdivided into 8 reales. Paraguay then decimalized, with 100 <i>centésimos</i> = 1 peso. The name of the subdivision was changed to <i>centavo</i> in 1874. The peso was replaced in 1944 by the <i><a href="https://en.wikipedia.org/wiki/Paraguayan_guaran%C3%AD" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Paraguayan_guaran%C3%AD" rel="nofollow">guaraní</a></i> at a rate of one hundred to one.</p><p>In 1867, Paraguay issued its first gold coins, for 4 pesos, during the <a href="https://en.wikipedia.org/wiki/Paraguayan_War" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Paraguayan_War" rel="nofollow">War of the Triple Alliance</a>. Bronze coins were issued in 1870 in denominations of 1, 2 and 4 centesimos, followed in 1889 by silver 1 peso. In 1900, cupro-nickel 5, 10 and 20 centavos were introduced, followed in 1925 by cupro-nickel 50 centavos and 1 and 2 pesos. In 1938, aluminium replaced cupro-nickel in these last three denominations, with cupro-nickel 5 and 10 pesos introduced the following year.</p><p><br /></p><p>In 1856, the National Treasury issued notes in denominations of ½ and 4 reales, 1 and 2 pesos. These were followed by notes for 1 and 2 reales, 3, 4, 5 and 10 pesos by 1870.</p><p><br /></p><p>In 1870, the General Treasury took over paper money production and issued the only notes denominated in centésimos. These were for 50 centésimos. The peso notes were denominated in &quot;peso fuerte&quot;. Notes denominated in reales were issued until 1871. In 1874, notes for 10, 20 and 50 centavos were issued, with 20 pesos notes introduced in 1875.</p><p><br /></p><p>In 1894, The government took direct control of note issue, with a series in denominations of 50 centavos, 1, 5, 10, 20, 50 and 100 pesos. 200 and 500 pesos notes were introduced in 1899. 50 centavos and 1 peso notes were last issued in the 1916 series. 1000 pesos notes were introduced in 1923.</p><p><br /></p><p><b>In 1907, the Bank of the Republic issued notes for 5, 10, 50, 100 and 1000 pesos national money which were also denominated as 50 centavos, 1, 5 and 10 pesos in gold. Private banks such as <i>El Banco De Comercio</i> and <i>Lezica y Lanús</i> issued notes in <a href="https://en.wikipedia.org/wiki/Asunci%C3%B3n" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.wikipedia.org/wiki/Asunci%C3%B3n" rel="nofollow">Asunción</a>.</b>[/QUOTE]</p><p><br /></p>

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