1 Escudo

Chile's escudo replaced the peso at a rate of 1,000 to 1 in 1960, a redenomination driven by chronic inflation that had made the old currency nearly unworkable in daily transactions. This note was printed domestically by the Casa de Moneda de Chile throughout the escudo's entire lifespan — an unusually long run for a lowest denomination, reflecting how quickly inflation eroded purchasing power and kept even 1-escudo notes in active circulation.

Series C–F examples lack the watermark at right present in later printings. The Mackenna Shiell and Ibañez Barceló signature combination places these issues within the early-to-mid period of the run, before the Allende government's monetary pressures accelerated the series further.