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| 正面铭文 | MEDIO REAL EL BANCO DEL COMERCIO N° 050697 Pagará a la vista CUATRO REALES plata Boliviana al portador de OCHO de estos billetes GUALEGUAY 1° DE JULIO 1869 BANCO DEL COMERCIO |
| 背面描述 | The reverse is largely plain paper, heavily worn, with a faint ghost impression of the obverse serial number visible through the note. Several handwritten manuscript notations appear in the upper right area in ink, consistent with period endorsements or validation marks. |
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Banco del Comercio was one of the provincial free-banking era institutions operating in Entre Ríos, Argentina, during the brief window between the fall of Urquiza and the national banking reforms that would effectively kill off provincial note issuance by the early 1870s. Gualeguay, a river port town on the Gualeguay River, supported enough commercial activity to sustain a local bank, but these fractional real notes were almost certainly issued to solve a chronic small-change shortage rather than to fund any serious lending operation.
The reales plata boliviana denomination is telling — Bolivian silver coinage was still in practical circulation across the Río de la Plata region at this date, and denominating paper in it was a shorthand for convertibility that local traders would recognize instantly.