2 Pesos

The Banco de Buenos Ayres was established in 1822 under the direction of Bernardino Rivadavia, making it one of the earliest chartered banks in South America. It collapsed in 1826, overwhelmed by government borrowing to finance the war with Brazil — the entire note-issuing operation lasted barely four years.

Locally produced rather than contracted to a European printer, these early issues are rough by continental standards. The handstamp seal was the primary fraud deterrent, as sophisticated security printing was simply unavailable in Buenos Aires at the time. PS308 survivors almost invariably show heavy handling; this was working money in an economy with very little of it.