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100 Pesos overprint on P#25 - Republica de Chile

Issuer Republica de Chile
Year 1898
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Currency Old peso (1835-1959)
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Obverse lettering REPUBLICA DE CHILE CIEN PESOS convertibles en ó plata oro por el Estado conforme á la lei SANTIAGO 1º de Agosto de 1898. American Bank Note Co. N.Y.
(Translation: The Republic of Chile One Hundred Pesos Convertible to gold or silver by the State according to the law August 1st., 1898.)
Reverse description Printed in dark blue on plain paper stock, the reverse is divided into three vertical panels filled with intricate lathe-work guilloche ornament and floral cornerpieces. At left, a large ornate numeral "100" cartouche; at center, a six-pointed star guilloche enclosing the circular arms-seal of the Republica de Chile; at right, a vertical panel carrying the legal-tender decree text. A bold red letterpress overprint reading "EMISION FISCAL" and the date "31 DE JULIO DE 1898" runs diagonally across the face of the note. The imprint of the American Bank Note Company, New York, appears at the bottom center.
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Comments

Pick 25 was Chile's standard 50 Pesos note; when the government needed 100 Pesos notes in a hurry, the simplest solution was to overprint existing stock rather than commission an entirely new plate. The American Bank Note Company had printed the underlying notes anyway, so the overprint work stayed in the same hands.

The 1898 timing coincides with Chile's ongoing monetary instability following the suspension of gold convertibility in 1878 — a suspension that dragged on for decades and repeatedly forced improvised stopgap measures like this one.

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