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5 Pesos

Issuer Banco de la Nación Argentina
Year 2006
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Reference(s) P#NL
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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
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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.

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