10 Pesos Convertibles de Curso Legal 2nd issue

The "Convertibles de Curso Legal" designation refers directly to the Convertibility Law of 1991, which pegged the Argentine peso one-to-one with the US dollar and prohibited the central bank from issuing currency beyond its hard currency reserves. The phrasing was legally mandated on every note — a public guarantee, printed in ink, that the peso was as good as a dollar. This series was still rolling off the Casa de Moneda presses when the convertibility regime collapsed in late 2001, triggering the largest sovereign debt default in history at that point and a freezing of bank deposits known as the "corralito."

Notes from the final print runs of this issue circulated through one of the most chaotic monetary episodes in Argentine history. Many were hoarded during the banking restrictions, which affects survival rates for genuinely circulated examples.