Catalog
50 Pesos
| Issuer | Tesorería de la Provincia de Buenos Aires |
|---|---|
| Year | 2002 |
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| Currency | Peso (1992-date) |
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| Obverse description | The obverse bears a right-facing portrait vignette of Dardo Rocha at the right, identified by his name below. The Argentine national coat of arms appears at the lower left, set against a fine guilloche underprint in pink and lavender tones. The upper portion carries the title inscription and the denomination numeral '50' at both corners, with the serial number 'A 02623143' printed twice and two manuscript signatures with printed name and title blocks below center. |
|---|---|
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| Reverse lettering | LEY Nº 12.727 ARTICULO 1º: "Declárese en estado de emergencia administrativa, económica y financiera al Estado Provincial..." ARTICULO 7º: "Apruébase la emisión de Letras de Tesorería para Cancelación de Obligaciones, las que se denominarán 'Patacón'..." ARTICULO 8º: "Las Letras de Tesorería para Cancelación de Obligaciones pagarán el ciento siete por ciento (107%) de su valor nominal el 25 de julio de 2002... Las Letras de Tesorería serán nominadas en pesos..." ARTICULO 11º: "El pago efectuado al acreedor mediante Patacones o Bonos de Cancelación de Obligaciones, importará la extinción irrevocable de los créditos por los que se efectúe la entrega." 50 PESOS DIDONE |
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This note is a product of the 2001–2002 Argentine financial collapse — specifically the provincial quasi-currency emergency that followed the freezing of bank deposits known as the "corralito." When the federal government suspended convertibility and access to accounts, several Argentine provinces resorted to issuing their own paper instruments to pay salaries and keep local economies liquid. Buenos Aires Province was among the largest issuers, and these patacones, as they were popularly called, were accepted by major supermarkets and even some utility companies under informal federal pressure.
Pereira signed as Tesorero; Zufriátegui as Contador General. By mid-2002 the province had issued several denominations, with the 50-peso patacón among the higher face values in the series.