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50 Pesos
| Issuer | Caja de Conversión, Argentina |
|---|---|
| Year | 1903-1906 |
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| Composition | Cotton paper |
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| Obverse description | At left, an intaglio vignette presents a seated allegorical female figure resting against a classical plinth and raising a torch in her right hand, with the denomination numeral '50' set within a guilloché cartouche to the right. The central field bears the obligation text in letterpress above the large denomination inscription 'Cincuenta pesos' and 'Moneda nacional', surmounted by the header 'Republica Argentina / La Nacion'. The lower margin carries 'LEY DE 20 DE SEPTIEMBRE DE 1897' and 'CAJA DE CONVERSION', with two manuscript signature lines reserved for the Secretario and Presidente. |
|---|---|
| Obverse lettering | Republica Argentina La Nacion pagará al portador y a la vista Cincuenta pesos Moneda nacional LEY DE 20 DE SEPTIEMBRE DE 1897 CAJA DE CONVERSION Secretario Presidente |
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| Comments |
Argentina's Caja de Conversión was established under the 1899 Conversion Law, which fixed the peso paper at 44 centavos gold — ending years of floating exchange and chronic depreciation that had destabilized the economy through the 1890s. The Caja's notes replaced the earlier Banco de la Nación issues under a strict convertibility regime that held until 1914, when the outbreak of war forced suspension.
ABNC printed this series from its New York facilities, as was typical for high-denomination Argentine paper of the period. The 50 Peso denomination would have moved primarily through commercial and banking channels rather than retail trade.