2 Pesos

The Banco Hipotecario de la Provincia de Buenos Aires was a mortgage bank, not a commercial one — its note-issuing activity was tied directly to provincial land credit operations rather than general banking. The 1891 date places this squarely within Argentina's severe financial crisis of that year, when the collapse of Baring Brothers in London triggered a cascade of bank failures and currency chaos across the country. Provincial mortgage institutions were among the hardest hit, and many ceased operations entirely within months.

Local printing in La Plata reflects the disrupted conditions of the period — access to foreign security printers had effectively collapsed alongside the credit that normally financed such contracts.