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10 Pesos Overprint on 1 000 Pesos
| Issuer | Banco Central de la República Argentina |
|---|---|
| Year | 1969-1971 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 10 PESOS LEY 18.188 El Banco Central de la República Argentina pagará al portador y a la vista Mil pesos MONEDA NACIONAL 1000 PESOS (Translation: 10 Pesos Law 18,188 The Central Bank of the Argentine Republic will pay the bearer and at sight One Thousand Pesos National Currency 1000 Pesos) |
| Reverse description | Violet intaglio reverse centred on a vignette of the frigate ARA Presidente Sarmiento under sail, based on a painting by Hugo Lebán. The composition is framed by fine guilloche work and panel lettering carrying the republic's name and the face denomination in full. |
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| Comments |
Argentina's chronic inflation of the late 1960s forced the Banco Central into a pragmatic cost-cutting measure: rather than commission entirely new print runs at smaller denominations, existing 1,000 Peso notes were overprinted downward to 10 Pesos following the June 1970 monetary reform that introduced the Peso Ley 18.188 — a redenomination at a ratio of 100 old Pesos moneda nacional to 1 new Peso. The overprint is the note, functionally speaking.
The chalcographic printing of the original 1,000 Peso base was retained, giving the overprinted issue an unusual tactile weight for what was, by 1970, a low-value circulating denomination.