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| 正面描述 | Green intaglio print on white paper. The central vignette carries a bold numeral '20' cartouche with the denomination legend 'VEINTE PESOS' in raised lettering, flanked left and right by oval vignettes each showing a horse in a rearing or galloping pose within guilloche borders. At the top, the coat of arms of the Province of Buenos Aires appears beneath the heading 'LA PROVINCIA DE BUENOS AYRES', with the text 'Reconoce este Billete por' and 'moneda corriente, Abril, 1° de 1867' completing the obligation clause, and a manuscript signature of a directorate official appearing below centre. |
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| 正面铭文 | LA PROVINCIA DE BUENOS AYRES Reconoce este Billete por 20 VEINTE PESOS 20 moneda corriente, Abril, 1° de 1867 POR EL DIRECTORIO DEL BANCO Y CASA DE MONEDA VEINTE PESOS |
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The Banco y Casa de Moneda de la Provincia de Buenos Ayres occupied an unusual institutional position — simultaneously a bank of issue and a mint, a combination that reflected the chronic monetary improvisation of the Argentine provinces during the mid-nineteenth century. Buenos Aires had resisted federalization until 1861, and its provincial banking apparatus retained considerable independence long after formal unification.
By 1867, the institution was operating under severe strain from paper money inflation that had been building since the 1840s. Notes of this series circulated at steep discounts against hard currency.