1/2 Peso

The Tesorería General de la República Argentina occupied an unusual position in mid-nineteenth-century Argentine finance — it was a treasury office, not a bank, issuing paper obligations at a moment when no single central monetary authority yet existed. Provincial and national issuers competed chaotically throughout the 1850s and 1860s, and notes from the national treasury carried varying degrees of public confidence depending on where you were standing geographically and politically.

The PS prefix in the Pick catalogue designates this as a state or provincial issue rather than a central bank emission — useful context given how frequently Argentine fiscal instruments from this period get miscategorized.