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20 Pesos
| Issuer | Provincia de Córdoba |
|---|---|
| Year | 2001 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Peso (1992-date) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCIA DE CORDOBA REPUBLICA ARGENTINA LETRAS DE CANCELACION DE OBLIGACIONES PROVINCIALES DE CORDOBA (LECOP CORDOBA) AL PORTADOR VEINTE PESOS VALOR NOMINAL VENCIMIENTO 31 DE OCTUBRE DE 2004 MINISTRO DE FINANZAS SECRETARIO DE ADMINISTRACION FINANCIERA 20 |
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| Reverse lettering | LECOP CORDOBA (Decreto Nº 2086/01) Artículo 1°: CRÉANSE las letras de cancelación de obligaciones provinciales como instrumentos de pago legalmente necesarios para la extinción de las obligaciones de cualquier naturaleza del sector público provincial. Artículo 2°: LOS instrumentos de pago creados por el artículo anterior se denominarán LETRAS DE CANCELACIÓN DE OBLIGACIONES PROVINCIALES DE CÓRDOBA (LECOP CÓRDOBA). Artículo 3°: LOS pagos efectuados a los acreedores mediante la entrega de las LECOP CÓRDOBA importa la extinción irrevocable de los créditos por cuya causa se formulará la entrega. Artículo 8°: LAS LECOP CÓRDOBA se emitirán a treinta y seis (36) meses de plazo y devengarán un interés anual del siete por ciento (7%). El total del capital se amortizará al vencimiento del plazo señalado. El pago de los intereses se efectuará en cuatro (4) cuotas trimestrales, con vencimiento - la primera de ellas - a los veintisiete (27) meses de la fecha de emisión. 20 |
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| Comments |
Argentina's provinces began issuing their own quasi-currencies — known as "cuasi-monedas" — starting in 2001 as the federal government's convertibility regime collapsed and provincial treasuries ran dry. Córdoba's issue, the "Lecop" series, was among the first and largest of these emergency instruments, circulating alongside federal pesos at par for everyday transactions. At peak issuance, provincial scrip from Córdoba and a dozen other provinces accounted for a substantial fraction of money in circulation across Argentina.
These notes lost legal tender status and were redeemed by the national government in 2003, which means surviving uncirculated examples are genuinely uncommon — most were spent hard and redeemed in bulk.