Argentina: Where Sometimes, One is Greater than Two

I just read an interesting article today by Joe Keohane on Slate.com titled, Yes, We Have No Monedas!: Inside the world’s most annoying economic crisis. In it he explains how a coin shortage in Argentina has caused the 1-peso coin to be valued by merchants, and people in general, much more than the 2-peso note. Because of this, vendors are more hesitant to accept larger bills such as 20s and 100s as they are to accept 5s and 10s. It’s a strange situation and nobody seems to know exactly why, but as he explains, everyone seems to have a theory.