200 Pesos

The Confederación Argentina was the rival government to Bartolomé Mitre's Buenos Aires Province during the political split that followed Rosas's fall — Buenos Aires had seceded and ran its own finances independently until reunification in 1860–61. The Ministerio de Hacienda issued these notes to fund a federal government that controlled the interior provinces but was cut off from Buenos Aires customs revenue, the dominant income source of the period. That fiscal pressure is precisely why these notes exist at all.

PS# catalogue placement confirms this as a private or semi-official emission rather than a chartered bank issue. Surviving examples are genuinely uncommon; the Confederación's monetary infrastructure was fragile and short-lived.