Catalog
1 Peso
| Issuer | Provincia de Catamarca |
|---|---|
| Year | 2001 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Peso (1992-date) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCIA DE CATAMARCA RECONOCERA POR ESTE TITULO PUBLICO AL PORTADOR LEY 4748 Serie N° MINISTRO DE HACIENDA Y FINANZAS GOBERNADOR UN PESO |
| Reverse description | The reverse is text-heavy, presenting the full legal provisions of Ley 4748 in small black letterpress print arranged in numbered articles (Artículo 1° through Artículo 8°), authorising the issuance of Títulos Públicos al Portador up to a stated face value in pesos. The heading TITULOS PUBLICOS AL PORTADOR / Ley 4748 modificada por las leyes Nros. 4959, 5010, 5045 y 5086 appears at the top. A large embossed or printed provincial coat of arms of Catamarca is positioned at lower right, surrounded by ornamental guilloche borders in orange and green. |
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| Comments |
Catamarca's 2001 emergency peso was one of dozens of provincial quasi-currencies — generically called "patacones" or "lecops" depending on the issuer — that flooded Argentina when the federal government's convertibility regime began collapsing and provinces lost access to central bank financing. Catamarca, one of the poorest provinces in the northwest, issued these notes to pay salaries and suppliers when hard currency simply wasn't available.
Provincial issuances varied wildly in how seriously markets treated them. Catamarca's notes traded at discounts to face value almost immediately.