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50 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2001 |
| Type | Log in to see details |
| Value | 50 Pesos |
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| Composition | Log in to see details |
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| Obverse description | The obverse is printed in purple and lilac tones on a light ground with fine guilloche underprint. At upper left, the coat of arms of Chaco province appears alongside the heading text; the central and left portions carry the full title of the instrument and legal references. To the right, a portrait vignette of Manuel Obligado — identified by name below — is rendered in intaglio style. The large numeral '50' appears in blue at lower right, with serial number '00.128.970' at upper right and 'SERIE 1' notation to its left. Two manuscript signatures are present at lower left, one attributed to the Tesorero General. |
|---|---|
| Obverse lettering | Log in to see details |
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| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO" Ley N° 4951/01 - Decreto N° 1690/01 Artículo 4: Autorizase al Poder Ejecutivo Provincial a emitir certificados de cancelación de obligaciones... Artículo 6: Los Certificados de Cancelación "QUEBRACHO"... contendrán la formalidad y seguridad exigidas por los artículos 742 a 745 del Código de Comercio... Artículo 8: El pago de toda obligación dineraria, tanto pública como privada, efectuado con Certificados de Cancelación "QUEBRACHO", implicará la extinción irrevocable de la obligación. Artículo 10: Los Certificados de Cancelación "QUEBRACHO" tendrán una paridad de uno igual a uno con el Peso Convertible de Curso Legal. Conforme el Art. 18 los Certificados de Cancelación "QUEBRACHO" tienen la garantía de la Coparticipación Federal de impuestos que le correspondan a la Provincia del Chaco Resistencia, 3 de Octubre de 2001 50 PESOS |
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| Comments |
The Provincia del Chaco 50 Pesos is one of several provincial quasi-currencies — locally called "Quebrachos" — issued by Argentine provinces during the economic crisis that preceded the December 2001 collapse of the currency board and the government of Fernando de la Rúa. With the federal government restricting money supply under convertibility constraints, cash-strapped provinces turned to their own scrip to pay salaries and suppliers. Chaco, one of Argentina's poorest provinces, had little choice.
Printed by Casa de Moneda, the national mint, these notes carried a veneer of official legitimacy that purely provincial prints lacked — though they were never legal tender outside the issuing province and were redeemed at varying discounts once the crisis passed.