The Numismatic History of Paraguay (NHP) Facebook page has announced the free public release of a digital compilation dedicated to the history of the Guaraní currency. The archive brings together studies on coins and banknotes, iconography, printing errors, minting processes, and key historical contexts. The archive is the result of the work of researcher Raúl Olazar. He is a specialist in monetary and symbolic history and administrator of NHP.
Olazar’s initiative has been promoted across social media platforms. His research is available via a free-access Google Drive link. According to the NHP organisation, this project aims to make specialised content. Specifically, more accessible to researchers, students, collectors, and the general public.
The available collection
The collection includes the Proclamation to Charles IV (1790), and the first Paraguayan gold coin (1867). Also, the cent coins issued between 1900 and 1908, and detailed symbolic analyses of the Gs. 50,000 and a misprint on the Gs. 2,000 banknote.
Historical figures also feature prominently. The compilation provides information on personalities such as Don Carlos Antonio López and Bernardino Caballero, represented on the Gs. 5,000 banknote and the Gs. 500 coin respectively. It also covers banknote iconography, cut or countermarked coins (known as the Patacón paraguayo), and medals from the War of the Triple Alliance.
More recent materials explore the animal world as depicted on Paraguayan banknotes. As well as the stories behind the imagery printed on them. The Google Drive also includes an introduction to notaphily, with a focus on the first individual ever portrayed on national banknotes.
The Numismatic History of Paraguay emphasises that downloading and using these documents is entirely free of charge. Researcher Raúl Olazar states that he is open to questions from any interested party. He also reiterates his commitment to the preservation of Paraguay’s historical and cultural heritage.
More of Raúl Olazar’s work on the Numismatic History of Paraguay
Raúl Olazar has devoted over six years to studying Paraguay’s monetary history. During this time, he has developed several social media platforms, including a YouTube channel, an X account, and a Facebook page for the Numismatic History of Paraguay organisation.
The researcher has published two books: The History of Metal Coins in Paraguay (2021) (Historia de la Moneda Metálica en el Paraguay), and Private Currency in Paraguay – History Through Exonumia (2025) (Moneda Privada en el Paraguay – La historia a través de la exonumia). The latter was presented at the 5th International Convention of Historians and Numismatists in Rio de Janeiro in 2025, where it was sold and delivered in person to attendees.
For more information about the financial history of Paraguay, visit the Museum of Economy in Asunción.
