50 Pesos Banco de Credito Auxiliar

The Compañía Sud-Americana de Billetes de Banco was the dominant security printer in the Río de la Plata region during the 1880s, supplying notes to both state and private banks across Argentina and Uruguay. The Banco de Crédito Auxiliar was one of the many provincial and quasi-commercial banks that proliferated under Argentina's loose banking legislation of the period — institutions that issued their own currency with varying degrees of reserve backing before the 1890 financial collapse forced a fundamental restructuring of the entire system.

This note dates to the peak of that speculative boom, just three years before the Baring Crisis brought most of these private issuers to ruin.