1979–1981 Argentina 500,000 Pesos Banknote P-308b San Martín UNC Crisp Hyperinflation Era

UNC 1979–1981 Argentina 500,000 Pesos P-308b San Martín banknote from hyperinflation era

This 500,000 Pesos banknote from Argentina (1979–1981), catalogued as Pick P-308b, is a remarkable relic from one of the most turbulent monetary periods in the nation’s history. Issued by the Banco Central de la República Argentina, it reflects the rapid inflation that plagued the country at the turn of the 1980s, when currency values escalated dramatically before the eventual transition to the Peso Argentino in 1983.

Design and Features:
The obverse of the note proudly features a finely engraved portrait of General José de San Martín, the revered liberator and national hero who led Argentina’s independence from Spanish rule. His image embodies national pride and resilience during an era of economic instability. Surrounding the portrait is a complex guilloche pattern with multicolor underprints and intricate microtext, serving both as a security feature and a work of artistry.

On the reverse, the note depicts the Casa de Moneda de la Nación Argentina (National Mint Building), symbolizing the country’s long-standing financial and printing tradition. The architectural design is rendered in precision intaglio, framed by ornate security linework and the denomination prominently displayed in multiple locations.

Historical Significance:
The issuance of this note came during Argentina’s final years of the “Peso Ley 18.188” system, which was replaced in 1983 after inflation had rendered denominations like 500,000 virtually worthless in circulation. As such, these banknotes capture a critical snapshot of Argentina’s economic history, illustrating the challenges of runaway inflation and the evolution of modern Argentine currency.

Authenticity and Cataloging:

• Country: Argentina

• Denomination: 500,000 Pesos

• Years of Issue: 1979–1981

• Pick Number: P-308b

• Printer: Casa de Moneda, Buenos Aires

• Condition: Uncirculated (Crisp, original paper)

Collector’s Value:
This uncirculated example of the Argentina 500,000 Pesos (P-308b) is prized among collectors for its historical depth, bold denomination, and pristine preservation. As a tangible piece of Argentina’s hyperinflation saga, it serves as both a fascinating conversation piece and a valuable addition to any world banknote collection focused on economic history or Latin American currencies.