1 Peso

Chile's 1881 series marked the government's direct entry into paper currency — the República de Chile notes were state-issued obligations, not commercial bank paper, arriving during the War of the Pacific when saltpeter revenues were reshaping the country's fiscal position. The American Bank Note Company's involvement was typical for Latin American sovereign issues of the period; ABNC held contracts across the continent simultaneously, and their New York plates gave the notes a consistency of finish that local printers couldn't match.

Pick #1 is the opening entry of Chilean national paper currency, which gives it a certain bibliographic significance regardless of grade.