200 Pesos

The Provincia de Buenos Ayres operated its own currency independently of the Argentine national government well into the 1860s — a product of the prolonged tension between Buenos Aires province and the Confederation that had only nominally resolved with the 1862 unification under Mitre. These provincial notes circulated alongside, and often in competition with, early national issues, reflecting how slowly fiscal consolidation actually moved on the ground.

The American Bank Note Company held a near-monopoly on quality intaglio work for South American issuers at this period. Plates were engraved in New York and the finished notes shipped south — a logistical arrangement that made local counterfeiting genuinely difficult.