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50 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2001 |
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| Reference(s) | P#S0 |
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|---|---|
| Obverse lettering | PROVINCIA DEL CHACO CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO" LEY N° 4951/01 - DECRETO N° 1690/01 AL PORTADOR FECHA DE EMISION: 12 DE OCTUBRE DE 2001 TASA DE INTERES: 8% ANUAL FECHA DE VENCIMIENTO INTERES 1° CUOTA: 12 DE OCTUBRE DE 2002 FECHA DE VENCIMIENTO CAPITAL E INTERES 2° CUOTA: 12 DE ABRIL DE 2003 CINCUENTA PESOS TESOREROGENERAL MINISTRO DE ECONOMÍA, OBRAS Y SERVICIOS PÚBLICOS MANUEL OBLIGADO CASA DE MONEDA 50 |
| Reverse description | The reverse is printed predominantly in olive-green and black on a pale ground. The full legal title 'CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO"' is set out in bold across the top, with the law and decree reference beneath. The body of the note consists of five numbered legal articles (Artículos 4, 6, 8, 10, and a Conformance clause) printed in small typeface, setting out the terms and conditions of the obligation. The denomination '50 PESOS' appears in large numerals at both upper right and lower left, flanked by ornamental guilloche borders. The document is dated 'Resistencia, 3 de Octubre de 2001' at the foot. |
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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.