2 Pesos

Banco Industrial de la Província de La Rioja was one of several provincial banks that emerged in Argentina during the early 1880s, when national banking legislation was loose enough to permit provinces to charter their own institutions and issue circulating notes. La Rioja was among the poorest and least populous provinces, and its industrial bank was more a political instrument than a commercial one — created to stimulate local economic activity in a region that had little of it.

The PS prefix in the Pick reference places this firmly in the speculative or semi-official category. Few of these provincial notes survived in any quantity; redemption rates were poor and the institutions behind them often short-lived.