ARGENTINA. Republic Argentina. 500 Pesos, 1897. P-UNL. PMG Choice Uncirculated 63.

(PM-50) In 1897, the government decided to issue a new series of notes backed by gold reserves. They invited a number of banknote printers to submit designs. However, they decided to use the allegorical symbol of Argentina seated near the coat of arms holding the torch of freedom. This was meant to show progress (El progreso). The notes were printed locally. The strict adherence to monetary policy created one of the most stable economic periods in the history of the country. The "progreso" series was used until 1947. This pattern was proposed by Fotorotar, Zurich. This company specialized in security measures which are evident in the intricate design details and scrollwork. The back has the earliest engraving of the congress building to appear on a banknote. PMG Choice Uncirculated 63.

From the Robert J. Bauman Collection.