1 Peso

Mouchon was a French engraver best known for his work on French postage stamps — his presence on an Argentine central bank note reflects the common interwar practice of sourcing prestige intaglio work from established European designers rather than developing domestic printing capacity. The Banco Central itself was only founded in 1935, making this among its earliest issued paper currency; the institution was established partly under the influence of Sir Otto Niemeyer's mission from the Bank of England, which shaped its initial structure and conservative emission policies.

The thirteen-year print run across wartime and postwar economic pressures means surviving examples span considerable variation in paper quality and ink density.