100 Pesos

The Banco Hipotecario was a mortgage bank, not a central or commercial bank, and its circulating notes were backed by real estate liens rather than specie reserves — an arrangement that made them structurally different from most Latin American paper currency of the period and considerably more vulnerable during property market contractions. Argentina's 1880s saw a wave of such institution-backed emissions, many of which ended badly when the Baring Crisis of 1890 collapsed the property and credit markets simultaneously.

The American Bank Note Company held a near-monopoly on high-quality security printing for South American issuers at this date. Whether this particular emission ever circulated widely is unclear; Banco Hipotecario notes from this series are genuinely scarce in any condition.