January 6, 2020. ARS5 banknotes are going to be withdrawn from circulation and will no longer be legal tender as from February 1 as the BCRA had made public under Communication A 6742 by the end of July 2019. Shops in
Argentina must accept AR$5 banknotes for all transactions until January 31, 2020. Financial institutions must accept ARS5 banknotes as deposits or exchange them until February 28.
At present, the ARS5 banknote circulates along with the coin with the same face value. This silver-colored coin featuring a myrtle tree will definitely replace the banknote.
As the banknote of the lowest denomination, the ARS5 paper is damaged more quickly than the rest of the banknotes. ARS5 banknotes featuring General José de San Martín on the obverse were issued in 1998. Now there are 459.6 million in circulation. Banknotes for 50 million have been removed from circulation since August 1, 2019.
In 2017, the BCRA launched a destruction program of worn-out banknotes, as part of a plan to improve the quality of money in circulation. In May 2018, the ARS2 banknote was removed from circulation.