100 Pesos 10 Condores

Chile's monetary system in 1925 was mid-transition. The peso had been the unit of account for decades, but the newly founded Banco Central — established by the Kemmerer Mission that same year — was simultaneously preparing to shift toward the condor as the primary denomination. This note straddles that change awkwardly, denominated in both units at a fixed rate of 10 pesos to the condor, a ratio that would soon make the dual labeling obsolete.

Printed domestically by Imprenta Fiscal rather than contracted abroad — unusual for Chilean notes of this period, which more commonly went to American Bank Note Company or Bradbury Wilkinson — the production quality reflects the limitations of local facilities in the mid-1920s.