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| 正面铭文 | República Argentina La Nación pagará al portador y a la vista Un peso moneda nacional LEY DE 20 DE SEPTIEMBRE 1897 CAJA DE CONVERSION (Translation: Republic of Argentina The Nation will pay the bearer and at sight One Peso National currency Law of September 20, 1897 Conversion Fund) |
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| 防伪类型 | Watermark |
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The Caja de Conversión was established in 1890 following Argentina's catastrophic Baring Crisis, which nearly bankrupted the country and forced a suspension of gold convertibility. These notes were issued under the 1899 Conversion Law that fixed the peso at 44 centavos gold — a deliberately undervalued rate intended to stabilize exports and rebuild reserves, not reflect the currency's actual purchasing power.
Mouchon was a French engraver and stamp designer best known for his work on the 1900 French "Mouchon" postal stamp series. His involvement here reflects the period practice of Argentine authorities commissioning European prestige printers for fiduciary paper.