20 Pesos

Banco Comercial de Chile was a short-lived institution, one of several private Chilean banks authorised to issue notes under the 1860 Ley de Bancos. Waterlow & Sons produced the plates, as they did for a significant portion of South American private bank issues during this period — their London operation handled engraving and printing for clients across the continent simultaneously, which occasionally means design elements were recycled between unrelated issuers.

Chilean private bank issues from this decade were rendered largely obsolete by the 1898 state monopoly on note issuance. Surviving examples from smaller provincial and commercial banks are correspondingly scarce.