50 Pesos

The Banco Provincial de La Rioja was one of several Argentine provincial banks empowered to issue currency under the 1887 banking law — the same legislation that briefly unleashed a flood of provincial paper across the country before the catastrophic Baring Crisis of 1890 forced most of these institutions into liquidation. La Rioja was among the more thinly capitalized of the group, and its notes circulated almost entirely within the province.

PS#1156 is scarce in any condition. The bank's failure left redemption obligations unmet, and surviving notes were not systematically recalled or destroyed — they simply stopped being honored.