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20 Pesos
| Issuer | Provincia de Córdoba |
|---|---|
| Year | 1996 |
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| Composition | Log in to see details |
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| Shape | Rectangular |
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| Obverse description | The obverse is printed in red and pink on white paper, with a fine guilloche underprint. The upper portion carries the title 'PROVINCIA DE CÓRDOBA' and series and serial number designations, below which the full legend 'CERTIFICADOS DE CANCELACIÓN DE OBLIGACIONES DE LA PROVINCIA DE CÓRDOBA' appears in two lines. The central vignette bears the large numeral '20' above the words 'VEINTE PESOS', flanked by the legal references to Ley 8472, date of emission (01-01-1996), and amortization terms; two manuscript signatures of provincial officials appear at the lower left, with their respective titles. At right, three detachable CECOR coupon stubs, each marked with sequential coupon numbers and maturity dates (01-04-1997, 01-07-1997, 01-10-1997), are printed in the same red scheme. |
|---|---|
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| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CÓRDOBA LEY 8472 (MOD. POR LEY 8482) ARTÍCULO 4° ARTÍCULO 5° ARTÍCULO 12° ARTÍCULO 13° ARTÍCULO 17° (LEY 8482) SALA DE MONEDA |
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| Comments |
Córdoba province issued its own quasi-currency during the deep fiscal crises that repeatedly strained Argentina's federal transfer system in the 1990s. These provincial bonds — circulating as de facto banknotes — were a direct consequence of Buenos Aires cutting or delaying co-participation funds to the provinces, forcing Córdoba to pay wages and suppliers in paper it printed itself.
The PS prefix in the Pick catalogue places this squarely in the state and provincial issues volume. Worth noting: Argentine provincial scrip from this period varied enormously in redemption reliability, and Córdoba's 1990s emissions had a better track record than several neighboring provinces whose equivalent paper became essentially worthless before formal withdrawal.