This classic Paraguayan issue originates from the 1904 definitive series depicting the national emblem — a vigilant lion beside a liberty cap beneath rays of light, symbolizing “Paz y Justicia” (Peace and Justice). In 1908, remaining stocks of this orange 5 centavos stamp were surcharged with the year “1908” in black as part of a reissue and postal revalidation following a period of governmental and fiscal adjustment.

Collectors value this overprinted type for its clear date marking and for its link to early 20th-century Paraguayan postal reforms. The bold “1908” overprint distinguishes it from the unoverprinted 1904 original and can appear in various minor typeface and spacing varieties that are of interest to specialists.