Argentina's mid-1980s centavo issues emerged from one of the most severe monetary collapses in the country's history. The austral replaced the peso argentino in June 1985 at a rate of 1,000 to one — this coin belongs to that transitional coinage, struck under the Austral Plan as the Alfonsín government attempted to brake inflation that had exceeded 600% annually.
The stabilization failed within two years. By 1989, monthly inflation had reached 3,000%, rendering these coins economically worthless almost immediately after issue.
Argentina's mid-1980s centavo issues emerged from one of the most severe monetary collapses in the country's history. The austral replaced the peso argentino in June 1985 at a rate of 1,000 to one — this coin belongs to that transitional coinage, struck under the Austral Plan as the Alfonsín government attempted to brake inflation that had exceeded 600% annually.
The stabilization failed within two years. By 1989, monthly inflation had reached 3,000%, rendering these coins economically worthless almost immediately after issue.