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2 Pesos Convertibles de Curso Legal 1st issue
| Issuer | Banco Central de la República Argentina |
|---|---|
| Year | 1992-1997 |
| Type | Log in to see details |
| Value | 2 Pesos (2 ARS) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANCO CENTRAL DE LA REPUBLICA ARGENTINA DOS PESOS CONVERTIBLES DE CURSO LEGAL BARTOLOME MITRE PRESIDENTE BCRA PRESIDENTE H.C. DIPUTADOS (Translation: Central Bank of the Argentine Republic Two Pesos Convertible of Legal Tender Bartolome Mitre President BCRA President H.C. Deputies) |
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| Reverse lettering | "En Unión y Libertad" REPUBLICA ARGENTINA DOS PESOS MUSEO MITRE CASA DE MONEDA (Translation: "In Union and Freedom" Argentine Republic Two Pesos Mitre Museum National Mint) |
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| Comments |
This note belongs to the first printed series under the Convertibility Law of 1991, which pegged the Argentine peso one-to-one with the US dollar and legally prohibited the Central Bank from printing money beyond its hard currency reserves. The phrase "convertibles de curso legal" on the face was not decorative — it carried statutory weight, signaling that each peso was theoretically backed by a dollar held in reserve.
The peg held for a decade before collapsing catastrophically in late 2001. Notes from this first issue circulated heavily throughout the 1990s boom years and the creeping crisis that followed, and surviving examples in high grade are less common than their long print run would suggest.