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2 Pesos
| Issuer | Provincia de Buenos Aires |
|---|---|
| Year | 2001-2002 |
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| Composition | Paper |
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| Obverse description | Portrait of Dardo Rocha in intaglio at right center, facing slightly left, set against a light blue guilloche underprint. The large numeral '2' appears at upper left in red, with the coat of arms of the Province of Buenos Aires at lower left. Two manuscript facsimile signatures appear below the portrait, identified as Víctor E. Pereira, Tesorero General, and Aníbal Zufriategui, Contador General de la Provincia de Buenos Aires. |
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| Reverse lettering | LEY N° 12.727 ARTICULO 1°: "Declarese en estado de emergencia administrativa, economica y financiera el Estado Provincial..." ARTICULO 7°: "Apruébase la emisión de Letras de Tesorería para Cancelación de Obligaciones, las que se denominarán 'Patacón'... Los títulos serán emitidos bajo las modalidades de los Artículos 742, 744 y 745 del Código de Comercio." ARTICULO 8°: "Las Letras de Tesorería para Cancelación de Obligaciones pagarán el ciento siete por ciento (107%) de su valor nominal el 26 de julio de 2002..." ARTICULO 11°: "El pago efectuado al acreedor mediante Patacones o Bonos de Cancelación de Obligaciones, importará la extinción irrevocable de los créditos por los que se efectúe la entrega." (Translation: Law No. 12,727 / Article 1: Declaration of administrative, economic and financial emergency of the Provincial State / Article 7: Authorization of the issuance of Treasury bonds for debt cancellation, to be called 'Patacón' / Article 8: The bonds shall pay 107% of face value on 26 July 2002 / Article 11: Payment made via Patacones or Cancellation Bonds shall constitute irrevocable extinction of the debts for which they are delivered.) |
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| Comments |
Buenos Aires Province issued its own currency during Argentina's 2001–2002 financial collapse, when the federal government froze bank deposits under the "corralito" and provincial administrations across the country resorted to quasi-money to pay public sector wages. The Buenos Aires patacón, of which this note is part, circulated alongside federal currency and was briefly accepted for tax payments, which gave it enough credibility to trade near par.
Ciccone Calcográfica, the Buenos Aires Province's printer of choice for this emergency series, had the domestic infrastructure to turn around large print runs quickly — a practical necessity given how fast the crisis escalated.