Description

1940 Costa Rica Banco Nacional 2 Colones Pick 197a PMG 64 Choice Unc Overprint

Rare Overprint Issue | Only 6 graded PMG 64 | Only 5 graded higher

Offered here is a beautifully preserved 1940 Costa Rica 2 Colones note from Banco Nacional, cataloged as Pick #197a, featuring the scarce overprint variety that dramatically elevates its collector demand. Graded PMG 64 Choice Uncirculated, this example represents a premium-level note with strong technical quality and excellent eye appeal—made even more compelling by its elite population standing.

Authenticity & Certification This banknote is professionally authenticated and encapsulated by PMG (Paper Money Guaranty), one of the world’s most respected third-party grading services. PMG certification provides confidence in authenticity, attribution, and grade, protecting the note long-term and ensuring it remains a reliable, trade-ready collectible.

Historical Significance Costa Rica’s early-to-mid 20th century banking system featured a mix of institutional issuers and evolving monetary controls as the nation modernized its financial infrastructure. Notes like this 1940 Banco Nacional issue reflect a period when paper money served as both a tool of commerce and a statement of national stability—especially important in an era shaped by global uncertainty and shifting economic relationships in the Americas.

The Overprint: What Makes Pick 197a Special The defining feature of this note is the “overprint” variety, a highly collected subtype that often signals a special issuance circumstance—such as a regulatory update, administrative change, validation for circulation, or a targeted fiscal need. Overprints are avidly pursued because they represent a distinct, time-specific chapter in a country’s monetary story, and they typically survive in far smaller numbers than the standard type.

Design & Visual Features This issue is a standout for its classic engraved artistry and balanced multi-color design, produced with the crisp detail collectors expect from top-tier banknote printing of the era. The layout combines bold denomination counters, intricate guilloche work, and finely rendered allegorical imagery, giving the note both aesthetic elegance and strong anti-counterfeiting complexity. It’s the kind of note that looks even better the longer you study it—layers of line work, patterning, and historical style all working together.

Remarkable Denomination While 2 Colones is a modest face value, it’s precisely these everyday denominations that can become surprisingly difficult in high grade—especially in scarcer varieties like overprints. This note represents the intersection collectors love: low denomination + special variety + top-grade preservation. Catalog Reference Country: Costa Rica Issuer: Banco Nacional Year: 1940 Denomination: 2 Colones Pick Number: P-197a Grade/Holder: PMG 64 Choice

Uncirculated Variety: Overprint Issue Rarity & Population Highlight This is not just a high-grade note—it is a high-grade note with an elite population profile: Only 6 examples graded PMG 64 Only 5 graded higher

That places this piece firmly in the upper tier of known certified survivors, making it especially attractive to registry-focused collectors and advanced Costa Rica specialists.

Collector’s Value (Why This Belongs in a Serious Collection) If you collect Costa Rica, Latin American overprints, or PMG-population rarities, this note checks all the right boxes: a desirable early issue, a scarcer overprint subtype, and a grade level that few collectors will ever have the chance to own. Population strength like this tends to create long-term demand because upgrading becomes extremely difficult—making a PMG 64 example a smart centerpiece for a type set, issuer set, or high-grade world currency collection.

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