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5 Pesos
| Issuer | Provincia de Catamarca |
|---|---|
| Year | 2001 |
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| Value | Log in to see details |
| Currency | Argentine Austral/Peso (1992-date) |
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| Obverse description | Green-tinted bearer bond note issued under Ley 4748, with a central vignette of the Casa Natal de Fray Mamerto Esquiú — a small whitewashed rural dwelling set against a landscape background. The denomination numeral '5' appears in large format to the right, with the text 'CINCO PESOS' beneath. The upper portion carries the issuer title 'PROVINCIA DE CATAMARCA / RECONOCERA POR ESTE / TITULO PUBLICO AL PORTADOR', and the serial number of Serie A is printed at lower left; the provincial coat of arms appears at upper right. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is printed in green and carries the full text of Ley 4748 in multiple numbered articles, setting out the legal framework authorizing the Provincial Executive to issue bearer public securities up to 90,000,000 pesos. A large decorative guilloche rosette in green is centered at the right side, while the legend 'LEY N° 4748' heads the text block at the top. |
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| Comments |
Argentina's provincial quasi-currencies — the so-called "patacones" and their regional equivalents — emerged in 2001 as individual provinces ran out of federal funds and began issuing their own interest-bearing bonds that circulated as cash. Catamarca was among the smaller, poorer provinces that printed these instruments; its fiscal position was heavily dependent on federal transfers, and when those dried up during the convertibility crisis, locally issued paper filled the gap.
These notes were legally bonds, not banknotes, which created ambiguity about redemption obligations after the federal government restructured in 2002. Many provincial issues were redeemed only partially or at a discount.