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1 Peso
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2002 |
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| Value | 1 Peso |
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| Obverse description | Light blue and grey emergency certificate of obligation (Quebracho) issued by the Provincia del Chaco, with guilloche ornamental borders framing both vertical edges. The Argentine national coat of arms, rendered in intaglio, occupies the right field, while the left portion carries printed text panels stating the issuance date of 12 January 2002, maturity dates, and an 8% annual interest rate. The denomination UN PESO is centred below the title block, with the Tesorero General's signature appearing at the lower left. |
|---|---|
| Obverse lettering | PROVINCIA DEL CHACO CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO" AL PORTADOR LEY N° 4951/01 - DECRETO N° 2137/01 FECHA DE EMISION: 12 DE ENERO DE 2002 TASA DE INTERES: 8% ANUAL FECHA DE VENCIMIENTO INTERES 1° CUOTA: 12 DE ENERO DE 2003 FECHA DE VENCIMIENTO CAPITAL E INTERES 2° CUOTA: 12 DE JULIO DE 2003 UN PESO MINISTERIO DE ECONOMIA OBRAS Y SERVICIOS PUBLICOS TESORERO GENERAL CASA DE MONEDA SERIE 2 |
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| Comments |
Chaco was one of several Argentine provinces that issued emergency quasi-currency — known as "lecops" or provincial bonds — during and after the 2001–2002 financial collapse, when the federal government froze bank deposits under the "corralito" and cash effectively vanished from circulation. These notes functioned as legal tender within provincial borders, accepted for taxes and some private transactions, filling the void left by the paralyzed banking system.
Casa de Moneda's involvement lent the notes a degree of physical credibility that some other provincial scrip lacked — the federal mint printing what were essentially fiscal workarounds for a sovereign collapse is not a detail that gets less strange with time.