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10 Escudos Overprint on 10 000 Pesos P#118
| Issuer | Banco Central de Chile |
|---|---|
| Year | 1960-1961 |
| Type | Log in to see details |
| Value | 10 Escudos |
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| Composition | Log in to see details |
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| Printer | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | BANCO CENTRAL DE CHILE 10 ESCUDOS DIEZ MIL PESOS (Translation: Central Bank of Chile 10 Escudos Ten Thousand Pesos) |
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| Protection type | Watermark |
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| Comments |
Chile's monetary reform of 1960 replaced the peso with the escudo at a rate of 1,000 to 1 — one of the most dramatic redenominations in South American history up to that point, driven by chronic inflation that had eroded the peso's purchasing power for decades. Rather than wait for entirely new stock, the Banco Central simply overstamped existing 10,000 peso notes with the new escudo value. It was a practical stopgap, not a planned issue.
The overprint was applied by the same Santiago facility that produced the underlying notes, which makes provenance straightforward — but also means that wear on the base note and legibility of the overprint can vary independently of one another.