1 Peso

The Banco de Buenos Ayres was established in 1822 as a joint stock institution — one of the earliest commercial banks in the Río de la Plata region — and was already under severe strain by the time this note circulated. The Brazilian blockade of Buenos Aires during the Cisplatine War (1825–1828) devastated trade revenues and forced repeated suspension of specie payments, meaning these notes floated on credit that grew increasingly threadbare.

The bank collapsed definitively in 1836, and surviving notes from this late 1820s window are scarce partly because so many were presented for redemption during the successive financial crises that followed independence.