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5 Pesos
| Issuer | Provincia de Formosa |
|---|---|
| Year | 2001 |
| Type | Log in to see details |
| Value | 5 Pesos |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCIA DE FORMOSA BONOS DE CANCELACION DE DEUDAS LEY Nº 1.296 Y LEY Nº 1.342 - Dto. Nº 558/01 CINCO PESOS Fecha de Emisión: 31 de julio de 2001 Fecha de Vencimiento: 01 de agosto de 2003 SERIE A SUBSECRETARÍA DE HACIENDA Y FINANZAS MINISTERIO DE ECONOMÍA OBRAS Y SERVICIOS PÚBLICOS |
| Reverse description | The reverse is printed in black on plain light paper and is given over entirely to dense letterpress text setting out the legal terms and conditions of the bond issue. The upper portion repeats the issuing authority and bond designation, followed by numbered articles drawn from Leyes Nº 1.296 and 1.342 and Decreto Nº 558/01 governing the emission, acceptance, and circulation of the BOCAN-FOR instruments. A small guilloche rosette device appears at upper right. |
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| Comments |
Formosa is one of Argentina's poorer northern provinces, and its decision to issue quasi-currency in 2001 was driven directly by the federal government's liquidity freeze that year. Provincial bonds circulating as cash — commonly called "patacones" in Buenos Aires but carrying different names province by province — became the functional money supply for millions of Argentines as the convertibility system collapsed. Formosa's scrip was among the smaller provincial emissions, and fewer notes entered wide circulation compared to the high-volume issues from Buenos Aires or Entre Ríos.
The PS prefix in the Pick reference signals provincial scrip rather than a central-bank issue — a distinction that still confuses some buyers unfamiliar with the 2001–2002 Argentine emergency series.