Banco Provincial de La Rioja was one of the provincial banks operating under Argentina's fragmented pre-1890 banking regime, in which individual provinces issued their own currency backed — in theory — by gold deposits held with the national government. The system collapsed spectacularly in 1890 during the Baring Crisis, which triggered a nationwide financial panic and the forced liquidation of most provincial banks. Notes from La Rioja circulated in one of Argentina's least economically active provinces, and redemption rates were poor even before the crisis hit.
ABNC's New York engraving is likely the most technically accomplished thing about this note's existence.
Banco Provincial de La Rioja was one of the provincial banks operating under Argentina's fragmented pre-1890 banking regime, in which individual provinces issued their own currency backed — in theory — by gold deposits held with the national government. The system collapsed spectacularly in 1890 during the Baring Crisis, which triggered a nationwide financial panic and the forced liquidation of most provincial banks. Notes from La Rioja circulated in one of Argentina's least economically active provinces, and redemption rates were poor even before the crisis hit.
ABNC's New York engraving is likely the most technically accomplished thing about this note's existence.