20 Centésimos Banco Navia

Banco Navia y Cía. was one of several short-lived private commercial banks that briefly filled the vacuum before Chile established its formal banking law in 1860 — though enforcement and consolidation took years. The American Bank Note Company's involvement here is typical of the period, when South American issuers routinely contracted New York engravers rather than European houses, partly on cost and partly on turnaround.

The centésimo itself had only been introduced in 1851 as Chile decimalized, making this a relatively early private emission in the new unit.