VENEZUELA. Estados Unidos de Venezuela. 8 Pesos, 27.8.1811. P-7. PMG Very Fine 25.An incredible rarity from the first series of Venezuela and only the second time we have offered this rare denomination, missing even from the Rosenman collection. The 8 Pesos is the second highest denomination of the 1811-12 series of Venezuela, considered the first series of paper money printed in South America. To the best of our knowledge, the 16 Pesos is not known to exist, making the 8 Pesos offered here the key denomination of this historically significant series. The present piece is of the second emission, with stamped signatures of Lorenzo Sata y Subiria, Josef Esteban de Alustiza, and José Joaquin Yarza. This is a different emission and signature combination than the note we previously offered.<p><p>The notes of this series were printed in Caracas using engraved wood plates on thick, handmade paper. There is typically a watermark visible, ranging from simple lines to various words, although on most surviving notes only part of a watermark is visible. During later printings the paper quality deteriorated as quantity became more important than quality. The design of the notes was simplistic, and except for signatures on the back of some denominations, they were uniface. The main design element is a seal which included the text "Pena de Muerte al Falsificador" (Death Penalty to the Counterfeiter). There is also a reference to the first year of independence. <p>In our January, 2025 NYINC auction we sold a Fine 15 graded piece for $60,000. The present piece is graded 10 points finer, and while it did receive comments for mounting and a corner stain, it is nicer and more attractive than the note we sold a year ago. There are now three pieces graded in the PMG population report, and this is the sole finest. An exceptional opportunity for the South American specialist, not to be missed. PMG Comments "Previously Mounted, Corner Stain."
