10 Pesos 1 Condor

Chile's Banco Central was established in 1925 under the Kemmerer monetary reform mission, and this note belongs to the first generation of issues printed entirely domestically — a deliberate policy shift away from European contract printers. The Talleres de Especies Valoradas in Santiago had been producing fiscal stamps and revenue paper for years before tackling banknotes, and the quality gap was visible to contemporaries.

The 1931 signature date places the earliest examples within weeks of the collapse of Chile's gold standard, suspended in April that year amid the global crash. Emiliano Figueroa Larraín, who signed the first issue as Banco Central president, had also served as Chilean head of state in the late 1920s — a rare case of a former president appearing as a signing official on currency rather than as a portrait subject.

The dual denomination — 10 Pesos and 1 Condor — reflects the transitional monetary nomenclature of the period; the Condor unit was never widely adopted in practice.