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10 Australes
| Issuer | Provincia de Tucumán |
|---|---|
| Year | 1991 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Printer | Casa de Moneda |
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| Engraver(s) | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse presents the full text of the authorising legislation, headed PROVINCIA DE TUCUMAN – BONOS DE CANCELACION DE DEUDAS / LEY 5728 MODIFICADA POR LEY 5866, with five numbered articles setting out the terms and conditions of issuance, redemption, and use of the bonds. The text is printed in dark blue on a light blue guilloche background, with a decorative rosette panel at the right margin echoing the obverse design. |
| Reverse lettering | PROVINCIA DE TUCUMAN – BONOS DE CANCELACION DE DEUDAS LEY 5728 MODIFICADA POR LEY 5866 Artículo 1.- Facúltase al Poder Ejecutivo a emitir "Bonos de Cancelación de Deudas" por la suma de $ 20.000.000 Artículo 2.- Los Bonos de Cancelación de Deudas se emitirán al portador Artículo 3.- Artículo 4.- Los bonos son aceptados como moneda de curso legal Artículo 5.- Las fianzas y cauciones reales exigidas por leyes de la Provincia |
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| Comments |
Tucumán's austral notes were provincial emergency currency, issued during the collapse of the national austral and the broader fiscal crisis that preceded Argentina's hyperinflationary peak. The provinces had no legal authority to print money but did so anyway — Tucumán among several that issued quasi-money known as "bonos" or "bocades" to pay provincial employees and suppliers when federal transfers dried up. These circulated at par with the national currency in theory, and at a significant discount in practice.
Casa de Moneda printed these under contract, which gave them a veneer of official legitimacy that purely locally-printed provincial notes lacked. Within two years, convertibility and peso replacement had rendered the entire austral series obsolete.