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20 Pesos
| Issuer | Provincia de Córdoba |
|---|---|
| Year | 2001 |
| Type | Local banknote |
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|---|---|
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| Reverse description | The reverse is printed on a plain cream paper ground with a large '20' in orange-brown at the upper right corner. The upper centre carries the heading 'LECOP CORDOBA' with the decree reference '(Decreto Nº 2086/01)' beneath it. The remainder of the face is occupied by three articles of dense legal text in small letterpress, setting out the statutory basis, terms, and interest conditions of the provincial debt instrument, with the provincial coat of arms vignette at the lower right. |
| Reverse lettering | LECOP CORDOBA (Decreto Nº 2086/01) Artículo 1°: CRÉANSE las letras de cancelación de obligaciones provinciales como instrumentos de pago legalmente necesarios para la extinción de las obligaciones de cualquier naturaleza del sector público provincial. Artículo 2°: LOS instrumentos de pago creados por el artículo anterior se denominarán LETRAS DE CANCELACIÓN DE OBLIGACIONES PROVINCIALES DE CÓRDOBA (LECOP CÓRDOBA). Artículo 3°: LOS pagos efectuados a los acreedores mediante la entrega de las LECOP CÓRDOBA importa la extinción irrevocable de los créditos por cuya causa se formulará la entrega. Artículo 8°: LAS LECOP CÓRDOBA se emitirán a treinta y seis (36) meses de plazo y devengarán un interés anual del siete por ciento (7%). El total del capital se amortizará al vencimiento del plazo señalado. El pago de los intereses se efectuará en cuatro (4) cuotas trimestrales, con vencimiento - la primera de ellas - a los veintisiete (27) meses de la fecha de emisión. 20 |
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| Comments |
Argentina's provinces began issuing their own quasi-currencies — known as "cuasi-monedas" — starting in 2001 as the federal government's convertibility regime collapsed and provincial treasuries ran dry. Córdoba's issue, the "Lecop" series, was among the first and largest of these emergency instruments, circulating alongside federal pesos at par for everyday transactions. At peak issuance, provincial scrip from Córdoba and a dozen other provinces accounted for a substantial fraction of money in circulation across Argentina.
These notes lost legal tender status and were redeemed by the national government in 2003, which means surviving uncirculated examples are genuinely uncommon — most were spent hard and redeemed in bulk.