1 000 000 Pesos

By the time this denomination entered circulation, Argentina had already cycled through years of triple-digit inflation under the military junta that had seized power in 1976. A one-million-peso note was not an anomaly — it was a practical necessity. The peso itself was replaced entirely in 1983 by the Peso Argentino at a conversion rate of 10,000 to one, which rendered the entire late-series high-denomination run obsolete almost immediately after issue.

Casa de Moneda had been printing increasingly larger denominations in rapid succession throughout this period, with the physical notes struggling to keep pace with the arithmetic of daily commerce. This was the highest denomination issued under the collapsing Peso series before redenomination.