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100 Pesos
| Issuer | Tesorería de la Provincia de Buenos Aires |
|---|---|
| Year | 2002 |
| Type | Local banknote |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | The reverse is printed in purple and olive tones on cream paper. The centre is occupied by an ornate rectangular guilloche border enclosing three articles of Ley N° 12.727 in small Spanish text, establishing the legal basis for the issuance of Patacón treasury letters. The denomination numeral '100' appears in large format at upper left and upper right, with 'PESOS' at right; a classical column vignette is at left and a floral rosette device at lower right. |
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| Protection description | Alphanumeric serial number printed in red on the obverse |
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| Comments |
The Tesorería de la Provincia de Buenos Aires issued these quasi-banknotes during the 2001–2002 Argentine financial crisis, when the federal government's corralito restrictions froze bank deposits and provincial administrations across the country began printing their own emergency scrip to pay wages and keep local economies moving. Buenos Aires Province was the largest and most consequential issuer, with circulation of its patacones — as these notes were popularly called — running into the billions of pesos equivalent.
The patacón was technically a bond redeemable for federal taxes, which gave it a legal basis without requiring the province to hold hard currency reserves. At peak crisis, they traded at a discount to the peso but were accepted at face value by many businesses and supermarkets.