2 Pesos

The Tesorería General issues of 1860 belong to a period when Argentina had no unified national currency — the country was operating under a patchwork of provincial and institutional emissions, each circulating with limited geographic reach. A treasury note rather than a bank note proper, this piece derives its authority from the issuing office itself rather than from any reserve-backed banking institution.

PS#226 is among the earlier catalogued Argentine fiscal emissions, and surviving examples are uncommon simply because treasury notes of this period were treated as transactional instruments, not savings vehicles. Redemption rates were irregular at best.