5 Pesos

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.