150 Pesos

El Banco Nacional was Argentina's first national bank, established in 1826 under Bernardino Rivadavia's reformist government with substantial British capital involvement. It issued paper currency at a moment when the young republic had almost no tradition of fiduciary money — convertibility was promised but almost immediately suspended due to the costs of the war with Brazil, which broke out the same year the bank opened.

The 150-peso denomination is an unusual one by any standard, suggesting the series was structured around local commercial conventions rather than borrowed European templates. PS#359 is among the rarer denomination survivors from this issue; most circulating examples were destroyed or lost during the bank's collapse in 1836 following the suspension of convertibility and chronic fiscal abuse by successive provincial governments.