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50 Pesos
| Issuer | Provincia de Formosa |
|---|---|
| Year | 2001 |
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| In circulation to | 2003 |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCIA DE FORMOSA BONOS DE CANCELACION DE DEUDAS LEY Nº 1.296 Y LEY Nº 1.342 - Dto. Nº 558/01 CINCUENTA PESOS Fecha de Emisión: 31 de julio de 2001 Fecha de Vencimiento: 31 de agosto de 2003 SERIE A SUBSECRETARIA DE HACIENDA Y FINANZAS MINISTERIO DE ECONOMIA OBRAS Y SERVICIOS PUBLICOS |
| Reverse description | The reverse is printed entirely in black on white paper and consists of the full legislative text authorising the issue, headed PROVINCIA DE FORMOSA / BONOS DE CANCELACION DE DEUDAS / Leyes Nºs 1.296 y 1.342 - Decreto Nº 558/01. The text is set in multiple numbered articles detailing the terms, conditions, and legal framework governing the circulation and redemption of the bonds, with no pictorial vignette. |
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| Comments |
Formosa is one of several Argentine provinces that issued its own quasi-currency during the 2001–2002 economic collapse, when the federal government's convertibility regime imploded and provincial administrations faced acute cash shortages. These notes — technically "bonds" or "letters of credit" — circulated alongside federal pesos as de facto money, accepted for wages, taxes, and local commerce out of sheer necessity rather than legal tender status.
Casa de Moneda's involvement gave the issue a degree of physical credibility that some provincial scrip of the period lacked entirely. The PS# designation reflects its classification as a provincial/state issue rather than a central bank note.