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10 Pesos

Issuer Provincia de Tucumán
Year 2000-2001
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Value 10 Pesos (10 ARS)
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Reverse description The reverse, printed in brown and orange, is given over almost entirely to the full legislative text of the authorising law, headed 'PROVINCIA DE TUCUMAN - BONOS DE CANCELACION DE DEUDAS / LEY 5728 MODIFICADA POR LEYES 5869 Y 6969', with the numbered articles set in small letterpress text filling the central field. The denomination numeral '10' appears in large outlined figures at both the left and right margins as a decorative border element. The decree number and date are printed at the foot of the note.
Reverse lettering PROVINCIA DE TUCUMAN - BONOS DE CANCELACION DE DEUDAS LEY 5728 MODIFICADA POR LEYES 5869 Y 6969
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Argentina's provincial quasi-currency boom of the early 2000s is one of the stranger episodes in modern monetary history. Facing a severe liquidity crunch under currency board constraints that pegged the peso one-to-one with the US dollar, provincial governments began issuing their own interest-bearing bonds denominated in pesos and designed to circulate as cash. Tucumán's series — known locally as "Bocade" notes — was among dozens of such emissions from different provinces, all technically debt instruments but functionally paper money.

The federal government eventually forced their withdrawal after the 2001–2002 collapse, when the convertibility regime itself fell apart. Redemption was uneven across provinces.

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