Catalog
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| Issuer | Banco de la Nación Argentina |
|---|---|
| Year | 2006 |
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| Value | Log in to see details |
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| Reference(s) | P#NL |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANCO DE LA NACION ARGENTINA FIDUCIARIO DEL FONDO FIDUCIARIO PARA EL DESARROLLO PROVINCIAL LETRAS DE CANCELACION DE OBLIGACIONES PROVINCIALES (LECOP) AL PORTADOR CINCO PESOS VALOR NOMINAL 5 VENCIMIENTO 30 DE SEPTIEMBRE DE 2006 JUAN BAUTISTA ALBERDI SERIE A |
| Reverse description | Log in to see details |
| Reverse lettering | LETRAS DE CANCELACION DE OBLIGACIONES PROVINCIALES (LECOP) DECRETO 1004/01 LECOP |
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| Comments |
The Banco de la Nación Argentina is a state-owned commercial bank, not a central bank — a distinction that occasionally confuses collectors. It was founded by law in 1891 following the severe banking crisis of 1890, known as the Baring Crisis, when speculative lending and foreign debt default destabilized nearly every private financial institution in the country. The Nación was created specifically to survive what private banks could not.
By 2006, the 5 peso denomination was approaching the low end of practical utility in everyday transactions, a quiet signal of the cumulative inflation since the 2001–2002 peso collapse.