Argentine peso moneda nacional explained

Local Name:peso moneda nacional argentino
Local Name Lang:es
Date Of Introduction:5 November 1881
Using Countries:Argentina
Subunit Name 1:centavo
Superunit Ratio 1:5
Superunit Name 1:argentino
Symbol:m$n
Symbol Comment:or
Symbol Subunit 1:¢
Used Coins:1, 2, 5, 10, 20, 50 centavos, 1, 5, 10, 25 pesos
Used Banknotes:50 centavos, 1, 5, 10, 50, 100, 500, 1000, 5000,
Issuing Authority:Banco Central de la República Argentina
Replaced Currency:Argentine real
Date Of Withdrawal:1 January 1970
Replaced By Currency:Argentine peso ley
Obsolete:yes

The peso moneda nacional (symbol: m$n) was the currency of Argentina from 5 November 1881 to 1 January 1970, the date in which the peso ley 18.188 was issued to the Argentine public. It was subdivided into 100 centavos, with the argentino worth 5 pesos. The peso was introduced to replace the Argentine peso moneda corriente at a rate of 25 = m$n 1.

History

The peso moneda nacional replaced the Argentine real at a rate of one to eight. It also replaced the peso fuerte at par and the peso moneda corriente at a rate of 25 pesos moneda corriente = 1 peso moneda nacional. The peso moneda nacional was itself replaced by the peso ley at a rate of one hundred to one.

The peso was initially pegged to the French franc at a rate of 1 peso = 5 francs. In 1883, when silver coins ceased production, the paper peso was set at a value of 2.2 francs or 638.7 mg gold. After a suspension in the gold standard from 1914, in 1927, a peg to the U.S. dollar was established of 2.36 pesos = 1 dollar. The rate changed to 1.71 pesos = 1 dollar in 1931, then to 3 pesos = 1 dollar in 1933. Between 1934 and 1939, the peso was pegged to sterling at a rate of 15 pesos = £1 stg (1 peso = 1s. 4d. stg). High inflation in the post-war period lead to the introduction of the peso ley 18.188 in 1970 at the rate of 100 pesos moneda nacional = 1 peso ley.

Coins

In 1881, silver 10, 20 and 50 centavos and 1 peso and gold 1 argentino coins were introduced, followed by bronze 1 and 2 centavos the next year. Silver coins ceased production in 1883, with gold coins ending in 1896. Base metal 5, 10 and 20 centavos were introduced in 1896, with base 50 centavos following in 1941. The 1 peso was reintroduced in 1957, with 5, 10 and 25 pesos introduced in 1961, 1962 and 1964.

Centavo

ValueObverseEmissionWithdrawnCompositionDiam.Image
1Liberty1882–189621 April 1959Bronze25 mm 150px
1Coat of arms1939–194421 April 1959Bronze16 mm
1Coat of arms1945–194821 April 1959Copper16 mm
2Liberty1882–1896 21 April 1959Bronze30 mm
2Coat of arms1939–1947 21 April 1959Bronze20 mm
2Coat of arms1947–1950 21 April 1959Copper20 mm
5Liberty1896–194231 January 1965Copper-Nickel17 mm
5Liberty1942–195031 January 1965Aluminium-Bronze17 mm
5José de San Martín1950–195331 January 1965Copper-Nickel17 mm
5José de San Martín1953–195631 January 1965Copper-Nickel-clad steel17 mm
5Liberty1957–195931 January 1965Copper-Nickel-clad steel17 mm 150px
10Liberty1881–1883.900 Silver18 mm
10Liberty1896–194221 January 1966Copper-Nickel19 mm
10Liberty1942–195021 January 1966Aluminium-Bronze19 mm
10José de San Martín1950–195221 January 1966Copper-Nickel19 mm
10José de San Martín1952–195621 January 1966Nickel-clad steel19 mm
10Liberty1957–195921 January 1966Nickel-clad steel19 mm 150px
20Liberty1881–1883.900 Silver22 mm
20Liberty1896–194231 January 1967Copper-Nickel21 mm
20Liberty1942–195031 January 1967Aluminium-Bronze21 mm
20José de San Martín1950–195231 January 1967Copper-Nickel21 mm
20José de San Martín1952–195631 January 1967Nickel-clad steel21 mm
20Liberty1957–196131 January 1967Nickel-clad steel21 mm
50Liberty1881–1883.900 Silver29 mm
50Liberty 194131 January 1969Nickel24 mm
50José de San Martín1952–195631 January 1969Nickel-clad steel23 mm
50Liberty 1957–196131 January 1969Nickel-clad steel23 mm

Peso

ValueObverseEmissionWithdrawnCompositionDiam.Image
1Liberty1881–1883.900 Silver39 mm
1Liberty1957–19621 October 1974Nickel-clad steel25 mm 150px
1Buenos Aires Cabildo19601 October 1974Nickel-clad steel25 mm
5Liberty1881–1896.900 Gold23 mm
5President Sarmiento frigate1961–196812 April 1976Nickel-clad steel21 mm
10Gaucho riding horse1962–196812 July 1976Nickel-clad steel21 mm
10House of Tucumán196612 July 1976Nickel-clad steel21 mm
25First national coin1964–196812 July 1976Nickel-clad steel26 mm
25Domingo Faustino Sarmiento196812 July 1976Nickel-clad steel26 mm

Banknotes

Provincial

There were several banknotes issued by provinces of Argentina, such as Buenos Aires (issued by its respective provincial entity (1883–85), Santa Fe (1882), Entre Ríos (1885), Córdoba (1889), Entre Ríos (1885), Chaco (1884), Salta (1884), and Tucumán (1888) provincial banks.

Banco Nacional

The first nationally issued banknotes were introduced by the "Banco Nacional" in 1883. These were in denominations of 5, 10, 20 and 50 centavos.

1899–1935 issues

In 1891 and 1892, the same denominations were produced by the recently created "Banco de la Nación Argentina". In 1894, the Banco Nación introduced larger denomination notes for 1, 2, 5, 10, 20, 50, 100, 200, 500 and 1000 pesos.

Paper money production was taken over by the "Caja de Conversión" in 1899. That year, 50 centavos, 1 and 100 pesos were introduced, followed in 1900 by notes for 5, 10, 50, 500 and 1000 pesos. These notes were issued until 1935, when the Banco Central began to produce notes.Law 3505, of 20 September 1897, authorized the Caja de Conversión to renovate all paper money in existence at the time. They decided to make new design called "Progress's Effigy" ("Efigie del Progreso").

These bank notes were created originally in a bigger size and printed by the mint (Casa de Moneda), using French-made paper.Due to their size, and the paper not being of good enough quality, they began to deteriorate. They then decided to suspend the printing and look for another provider. The new notes, of smaller size, started to be issued in 1903, using typography as the printing method.

ValueIssue datesImage (obverse / reverse)
50 Centavos1899–1900, 1918–1926
1 Peso1900–1903, 1906–1935
5 Pesos1900–1935
10 Pesos1900–1935
50 Pesos1900–1935
100 Pesos1899–1932
500 Pesos1900–1901, 1905, 1909–1930, 1935
1000 Pesos1901, 1905, 1906, 1908, 1910–1934

Banco Central

When the Central Bank of Argentina was established it took over the banknotes, which began to be printed by the Casa de Moneda. The banknotes designs were not modified until 1942, when the bank decided to introduce new designs, leaving the allegory of Liberty figure behind. Some series were printed in Great Britain.[1]

The Banco Central issued the following banknotes:

Valuewidth=200px Obversewidth=200px ReverseEmission start dateWithdrawnImage (obverse / reverse)
0.50 Allegory of LibertyNational Constitution194231 December 1960
1JusticeCasa de Tucumán193531 December 1960
5José de San MartínMay Revolution193531 January 1965
10José de San MartínOath of Independence17 March 193631 January 1965
50José de San MartínCrossing of the Andes (painting by Augusto Ballerini)10 September 193630 March 1968
50José de San MartínCrossing of the Andes2 January 194330 September 1968
100José de San MartínFounding of Buenos Aires (painting by José Moreno Carbonero)14 August 193630 March 1968
100José de San MartínFounding of Buenos Aires 23 December 194330 September 1968
500José de San MartínCentral Bank of Argentina21 December 194430 March 1968
500José de San MartínSan Martín's house at Grand Bourg25 November 196430 September 1968
1,000José de San MartínFrigate Presidente Sarmiento21 December 19441 July 1975
5,000José de San MartínNational Congress4 October 19621 July 1975
10,000José de San MartínSan Martín and O'Higgins meeting 18 December 19611 July 1975 200px200px
Notes

Bibliography

External links

Notes and References

  1. https://www.billetesargentinos.com.ar/billetes/moneda_nacional.htm Peso Moneda Nacional

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