1000 Pesos

The Caja de Conversión was established in 1890 following the Baring Crisis, which nearly collapsed Argentina's financial system entirely. It operated on a strict convertibility principle — pesos could be exchanged for gold at a fixed rate — but that mechanism was suspended in 1914 when World War I made gold reserves impossible to maintain, leaving notes like this one circulating without the backing their design implicitly promised.

At the 1000-peso denomination, these notes functioned almost exclusively in wholesale trade and interbank settlement. Retail handling was rare. The series ran across an unusually long print window, and earlier dates within the range command notably more interest than later ones.