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10 Pesos overprint on P#S334 - Banco Nacional de Chile
| Issuer | Banco Nacional de Chile |
|---|---|
| Year | 1898 |
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| Reference(s) | P#48 |
| Obverse description | Black intaglio on green and brown underprint. Vignette of Pedro de Valdivia at left, a condor vignette at center, and the Chilean Coat of Arms at right. The note is a reused example from P#S308 (Banco Mobiliario) bearing round cancellation stamps of types I and III. |
|---|---|
| Obverse lettering | BANCO NACIONAL DE CHILE PAGARÁ AL PORTADOR Á LA VISTA EN VALPARAÍSO DIEZ PESOS MONEDA CORRIENTE 1º de Agosto de 1898. (Translation: National Bank of Chile Will pay to bearer at sight in Valparaiso Ten Pesos in currency August 1st., 1898.) |
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| Comments |
The Banco Nacional de Chile was absorbed into the Banco de Chile system following the 1898 currency reorganization that came in the wake of Chile's 1878 monetary crisis and the subsequent paper money law. Rather than printing an entirely new series, the overprint on existing P#S334 stock was the practical solution — cheaper and faster than commissioning fresh plates from the American Bank Note Company, which had already produced the underlying notes in New York.
Overprint survivorship on these is uneven. Notes that circulated heavily in the northern nitrate provinces show the stamp poorly applied, as local handling conditions were hard on paper stock.