50 Pesos

Argentina's provincial quasi-currencies occupy a genuinely odd corner of monetary history, but Córdoba's paper emissions of the mid-1990s belong to a specific crisis logic: the Convertibility Law of 1991 pegged the peso to the dollar at parity and stripped the central government of money-printing flexibility, which pushed fiscal pressure downward onto provinces. Córdoba, chronically underfunded by federal transfers, issued provincial bonds and notes to pay salaries and suppliers when cash ran short.

The PS prefix in the Pick system signals this is catalogued as a necessity issue rather than a standard banking note — a distinction that mattered legally as well as numismatically. By the late 1990s these instruments were circulating as de facto currency in local transactions, whether or not anyone called them that.