1 Peso

The Banco Provincial de Santa Fé was one of several Argentine provincial banks granted note-issuing authority during the 1880s boom years, when the national government's laissez-faire banking policy allowed provinces to flood the market with paper. The American Bank Note Company held a near-monopoly on quality intaglio printing for South American issuers during this period, and the Santa Fé contract was one of dozens running simultaneously through their New York shops.

Provincial bank failures came fast after the Baring Crisis of 1890 destabilized Argentine credit. The Banco Provincial de Santa Fé did not survive the decade intact, which curtailed the note's circulation life considerably.