How much is the following worth?

1,000,000 un million de pesos issued by Banco Central de la Republica
Argentina

This is an old issue from exactly when I am not sure.  I think the
1980's.  I went to the Banco Central website and could not find a
picture of the bill.  It has a rendering of a man's head on it with
the words "San Martin" underneath it.  On the back there is a picture
of a town square with the words "25 de Mayo de 1810" printed on it.

Hello rc2257 and thank you for your question.

Your bank note is worth between about $5 and $13 US depending on its
condition.

Your note:

Portrait side:
http://imagehost.vendio.com/bin/viewimage.x/00000000/herrymoose/ara100000000x1981ap310.jpg?allow_mailing_list=1&owner_id=471059&allow_track_link=1&track=02225ff853-73013&pt=bidpay

Reverse side:
http://imagehost.vendio.com/bin/viewimage.x/00000000/herrymoose/ara100000000x1981bp310.jpg?allow_mailing_list=1&owner_id=471059&allow_track_link=1&track=02225ff853-73013&pt=bidpay



"Winning bid:  US $5.00"  

"Country:                    Argentina

Issuing Authority:       Banco Central de la República Argentina

Denomination:           1,000,000.00

Currency:                 Peso / Pesos

Printer:                      Casa de Moneda - Buenos Aires /
Argentina

Year of Issue:            1981-83

Grade/Condition:       Uncirculated
More information:
General San Martin on the obverse. The reverse shows a scene entitles
25 May 1810.
This note originally had quite a high face value. On December 31, 1981
1 Million Pesos were equivalent to US$138 but its value went down to
US$25 at its worst in 1983 (After Argentina lost control of the
Falkland Islands in 1982 the inflation just went crazy)."
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3030404112

Also:
"Winning bid:  US $11.50"
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3028702456&category=3440


Currently there is one for sale on ebay (with no current bidders):
Starting bid:  US $9.99  
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3034191978&category=3440

Thank you for your question and if you need any clarification of my
answer do not hesitate to ask.

Very best regards

THX1138

Search strategy included:
argentina pesos note
://www.google.com/search?as_q=argentina+pesos+note&num=10&hl=pt&ie=ISO-8859-1&btnG=Pesquisa+Google&as_epq=&as_oq=&as_eq=&lr=&as_ft=i&as_filetype=&as_qdr=all&as_occt=any&as_dt=i&as_sitesearch=

---

Request for Answer Clarification by rc2257-ga on 10 Jul 2003 14:22 PDT

Hi thx1138.  Thank you for responding so quickly.  The picture on the
ebay auction is of the type of note I have.

What I actually need to understand may constitute another question
entirely.  Or perhaps I should have somehow included it with my
original, very narrowly framed question.  I have never used this
service before, so I am unsure of exactly how much/what I can ask at
one time.

Can an "old" note be used like any other money within its country of
origin and like any other note have a value that fluxuates based on as
currency's value? Or is an "old" currency note like collectors items
which has a value that fluxuates with consumer interest in collecting
them?

---

Clarification of Answer by thx1138-ga on 10 Jul 2003 15:20 PDT

Hello again rc2257.

I am more than happy to help further :) 

Your note only has value as a collectors item, what I mean is, that if
you were to travel to Argentina and try to spend it, it would not be
accepted anywhere.

Argentina (like most other South American countries) has gone through
many “re-valuations” where the currency is re valued and the notes and
coins that are in circulation are all withdrawn from circulation and a
new set of notes and coins are issued.  The new notes and coins have a
new name, new design, and the old ones are then no longer accepted.

All of the above is unfortunate, as if your note was still valid in
Argentina it would be worth about US$ 361,532.90 by todays exchange
rate (1 Peso = 0.361533 USD) http://www.xe.com/ucc/

The note you have stopped being used in 1985.

"Uses a PESO of 100 CENTAVOS. The currency was revalued in 1970;1
"PESO LEY 18188" = 100 of the old PESOS "MONEDA NACIONAL". This was
replaced in 1973 by the "PESO ARGENTINO" at a rate of 10000 to 1. This
was in turn replaced by the AUSTRAL at 1000 to one in 1985. In 1992,
the currency PESO was reintroduced at a rate of 1 PESO = 10000
AUSTRALS. See also ARGENTINO, NUEVO."
http://www.fx4business.com/services/EasyReference.html

If you need any other help, don't hesitate to ask.

Very best regards

THX1138

This is a wonderful service, and the answers that I got were exactly what I needed.

Hello again rc2257.

Just a note to say thank you for the excellent rating and nice tip.
I'm glad I was able to help.

Very best regards

THX1138