20 Argentinian Pesos Fuertes 1869 Banco Oxandaburu y Garbino

Argentinian Pesos Fuertes money currency banknote
Banco Oxandaburu y Garbino
Argentinian Money - 20 Pesos Fuertes banknote 1869 issued by the El Banco Oxandaburu y Garbino.

Obverse: Gauchos and carriage at center.
Printed by American Bank Note Company, New York.

The peso was a name often used for the silver Spanish 8 reales coin. Following Independence, Argentina began issuing its own coins, denominated in reales, soles and escudos, including silver 8 reales (or soles) coins still known as pesos. These coins, together with those from neighbouring countries, circulated until 1881.

In 1826, two paper money issues began, denominated in pesos. One, the peso fuerte (Symbol - $F) was a convertible currency, with 17 pesos fuertes equal to one Spanish ounce (27.0643 g) of 0.916 fine gold. This was changed in 1864 when the rate dropped to 16 pesos fuertes per gold ounce. It was replaced by the peso moneda nacional at par in 1881.