50 Centavos large size

The Caja de Conversión was established by Argentina's 1890 Conversion Law, a direct consequence of the Baring Crisis — the near-collapse of Barings Bank in London triggered largely by Argentine sovereign debt default. The Caja's mandate was to issue paper money backed by gold at a fixed rate, ending the chaotic era of provincial and private bank emissions that had destabilized the peso for decades.

Louis-Eugène Mouchon is better known as a stamp engraver — his work on French and colonial postage is extensively documented — making his involvement in this Argentine series an interesting crossover. The large format of this 50 Centavos was deliberately retained even as later emissions shrank, a practical nod to the note's low denomination and the need for easy visual distinction in daily use.