Patacón


The Patacón (officially called Letra de Tesorería para Cancelación de Obligaciones de la Provincia de Buenos Aires) was a bond issued by the government of the province of Buenos Aires, Argentina, during 2001.

The patacones were used to pay government bills, including state employees' salaries during a period when the economic crisis caused regular currency (Argentine pesos) to be scarce. Patacones then circulated in the economy in much the same way as pesos.

First issued during the peso/U.S. dollar convertibility regime, just like other complementary currency Patacones could be attractive due to a revenue scheduled for payment in 2003 in pesos (practically equivalent to dollars).

When the convertibility was abandoned amid fears of hyperinflation, the attractive of this revenue practically disappeared. The basis for the acceptability of complementary currency shifted to their use to pay taxes.


Patacón
0.50 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
1 Peso
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
2 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
5 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
10 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
20 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
50 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002
100 Pesos
Denomination: Patacón
Portrait: Dardo Rocha
Withdrawn: 25 July 2002