2 Pounds - Chiloe

Chiloé, the large island archipelago in southern Chile, maintained a semi-autonomous monetary system during the early 19th century, issuing its own copper coinage when mainland supply lines collapsed during the independence wars. This 2025 issue references that isolation — Chiloé was, remarkably, the last Spanish royalist holdout in South America, not surrendering until January 1826, nearly three years after the rest of Chile had fully transitioned to republican governance.