10 Pesos

The Banco de Buenos Ayres was established in 1822 as Argentina's first formal bank of issue, but its independence was short-lived — the institution was absorbed by the provincial government of Buenos Aires in 1836, effectively ending private note issue in the region for decades. Notes from the 1827–1828 period fall squarely into the bank's most turbulent years, when the ongoing war with Brazil over what would become Uruguay was placing extreme strain on convertibility. Specie payments were suspended in 1826 and never meaningfully restored before the bank's transformation into the Banco de la Provincia.

Survival rates for cotton-paper issues from this period are very low, with most examples showing heavy folding from active circulation in a market that had few alternatives to paper.