Argentina
In 1881, a currency reform in Argentina introduced a bimetallic standard, which went into effect in July 1883. Units of gold and silver pesos would exchange with paper peso notes at given par values, and fixed exchange rates against key international currencies would thus be established. Unlike many metallic standards the system was very decentralized: no national monetary authority existed and all control over convertibility rested with the five banks of issue. The period of convertibility lasted only 17 months: from December 1884 the banks of issue refused to exchange gold at par for notes. The suspension of convertibility was soon accommodated by the Argentine government, since, having no institutional power over the monetary system, there was little they could do to prevent it.
Read more about this topic: Bimetallism