Catalog
100 Pesos
| Issuer | Banco de Valparaíso |
|---|---|
| Year | 1877 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | The reverse is printed in green and features a large central intaglio vignette of a standing allegorical female figure robed in classical dress, representing the Republic of Chile, with a small child at her side and the Chilean flag visible in the background. Two ornate guilloche rosettes bearing the numeral '100' flank the central vignette at left and right, set within elaborate lathe-work borders. The bank name 'BANCO DE VALPARAISO' and the inscription 'REPUBLICA DE CHILE' are distributed around the upper border of the central octagonal frame. |
| Reverse lettering | BANCO DE VALPARAISO REPUBLICA DE CHILE 100 |
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| Comments |
Banco de Valparaíso was one of several Chilean private banks authorized to issue currency under the Ley de Bancos of 1860, which permitted note-issuing privileges to chartered institutions without a central bank to regulate them. The arrangement produced a fragmented but functional currency system that lasted until the Estado began forcing redemption requirements in the late 1870s — pressure that pushed several provincial banks toward insolvency well before the War of the Pacific disrupted trade through the port entirely.
The American Bank Note Company handled Chilean private bank commissions extensively during this period, supplying intaglio-printed notes to multiple competing institutions simultaneously. Surviving examples from this 1877 issue tend to show horizontal fold wear consistent with cashier drawer storage rather than heavy hand-to-hand circulation.