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50 Pesos Convertibles de Curso Legal 2nd issue
| Issuer | Banco Central de la República Argentina |
|---|---|
| Year | 1999-2003 |
| Type | Standard circulation banknote |
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| Obverse description | Intaglio portrait of Domingo Faustino Sarmiento at centre-right, with a vignette of a rural schoolroom scene to the left serving as an underprint element. Vertical denomination text 'CINCUENTA PESOS CONVERTIBLES DE CURSO LEGAL' runs along the left margin, while the issuer legend 'BANCO CENTRAL DE LA REPUBLICA ARGENTINA' appears at upper centre. A facsimile of Sarmiento's handwritten manuscript forms the right-hand underprint, with serial number printed vertically at left and horizontally at upper right. |
|---|---|
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| Reverse description | Central vignette of the Plaza de Mayo in Buenos Aires, with the Casa Rosada visible in the background. The denomination and republic name are rendered in intaglio lettering, accompanied by a biographical inscription honouring Sarmiento. Guilloche underprint patterns frame the central scene. |
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| Comments |
This series was printed entirely within Argentina by Casa de Moneda — notable because earlier high-denomination peso convertible issues had relied on foreign printers. The Convertibility Plan, which pegged the peso one-to-one with the US dollar from 1991, gave the 50-peso note its unusual monetary weight: each note was legally equivalent to fifty US dollars, a parity the government defended until December 2001, when the collapse of convertibility triggered the largest sovereign debt default in history to that point.
Notes from the 1999–2003 print run straddle that crisis. Post-2001 examples may show heavier circulation wear owing to the bank runs and cash hoarding that preceded the corralito — the emergency freeze on bank withdrawals imposed in December 2001.