Review: Argentina's Monetary History on Display in a Museum

Located a stone's throw from the Central Bank of Argentina in Buenos Aires, the Museo Histórico y Numismático Héctor Carlos Janson, also known as the Central Bank Museum, tells the story of a country plagued by hyperinflation.

The permanent exhibition is located on the first floor, where six rooms display Argentine currency throughout history, plus the tools used to create them. The exhibit begins with the pre-European economy, in which natives used cocoa beans, cowrie shells, and small pieces of metal as units of exchange. Colonial-era coins were minted in Bolivia. One has "VTRAQUE VNUM" written on the front, meaning "Both Are One," referring to Spain and its colonies.

As the exhibit moves on to 19th and 20th century currencies, the economic chaos is evident: The display contains 1 peso notes, 10 peso notes, and 50 peso notes, all the way up to the hyperinflation-era 1,000 peso notes. Under President Juan Perón, government spending increased substantially, and deficits were increasingly financed through the Central Bank, which increased the money supply, accelerating inflation. … [Subscribe to continue reading]