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1 Peso

Issuer Provincia de Santiago del Estero
Year 1891
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Value 1 Peso
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Obverse description Green-tinted note with the heading TITULO DE CREDITO DE LA PROVINCIA / Santiago del Estero in ornate script across the upper portion, flanked by large decorative numeral "1" vignettes at each corner. At left center, an oval medallion bears the provincial seal. The central text states the Province of Santiago del Estero will receive this title in payment of fiscal, municipal, and public land taxes in accordance with the Law of 1st April 1891, dated Santiago del Estero, 18 July 1891. The denomination UNO PESO appears in a prominent panel with the serial number, and two manuscript signatures appear at the base.
Obverse lettering TITULO DE CREDITO DE LA PROVINCIA
Santiago del Estero
La Provincia de Santiago del Estero recibirá al portador de este título por
UN PESO
moneda nacional en pagos de impuestos fiscales, municipales y de tierras públicas de acuerdo con la Ley de 1° de Abril 1891
SANTIAGO DEL ESTERO, 18 de Julio de 1891
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Comments

Santiago del Estero's 1891 provincial emission belongs to the chaotic aftermath of Argentina's Baring Crisis, when the Banco de la Nación Argentina had not yet been established to consolidate currency issuance. Provincial governments, many already financially overstretched, scrambled to issue their own paper to cover immediate obligations. Santiago del Estero — one of the poorest and most sparsely populated interior provinces — was in no position to back its notes with meaningful reserves.

The PS prefix in the Pick reference signals provincial Argentine issues catalogued separately from national emissions, a series riddled with redemption failures. Whether these notes ever achieved genuine circulation beyond local government payments is doubtful.

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