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1 Peso Banco de Valparaiso
| Issuer | Banco de Valparaíso |
|---|---|
| Year | 1876 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | EL BANCO DE VALPARAISO Pagará al portador á la vista en Valparaíso UN PESO MONEDA CORRIENTE Valparaiso, Enero 3 de 1876. (Translation: The Bank of Valparaiso Will pay to bearer at sight in Valparaiso One Peso in currency Valparaiso, January 3, 1876.) |
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| Reverse lettering | Banco de Valparaiso. Republica de Chile. Compañía Nacional de Billetes de Banco, Nueva York (Translation: Bank of Valparaiso. Republic of Chile. American Bank Note Company, New York) |
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| Comments |
The Banco de Valparaiso was one of Chile's major private banks operating under the 1860 Ley de Bancos, which permitted note issuance backed by metallic reserves. American Bank Note Company in New York handled the printing for several Chilean private banks during this period — a common arrangement when domestic printing infrastructure couldn't meet the security demands of fiduciary currency. ABNC plates were expensive to commission but virtually impossible to counterfeit locally, which made the relationship attractive despite the logistical distance.
The bank collapsed following Chile's 1878 financial crisis, triggered in part by the silver price crash. Notes from this issue had a correspondingly short circulation window.