1 Peso Banco Agricola

The Banco Agrícola de Chile was one of several private Chilean banks authorized under the 1860 banking law, which permitted note-issuing privileges without requiring full specie backing — a deliberate policy choice that fueled agricultural credit but also chronic over-issue. By the mid-1880s, Chilean private banknotes were circulating at discounts that varied wildly by region and issuer reputation.

ABNC engraved the plates in New York, as they did for most Latin American private banks of this period. The S-prefix in the Pick catalogue designates this as a state or private commercial bank issue rather than a central authority note.