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5 Centesimos Overprint on 50 Pesos P#126
| Issuer | Banco Central de Chile |
|---|---|
| Year | 1959-1964 |
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| Composition | Log in to see details |
| Size | 145 × 70 mm |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | Green on multicolour guilloche underprint, with the bank seal as the central motif. A red letterpress overprint has been applied across the face of the underlying note, restating the denomination as "5 CENTESIMOS DE ESCUDO" in accordance with the 1960 monetary reform that replaced the Peso with the Escudo at a rate of 1,000 to 1. |
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| Protection type | Watermark |
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| Comments |
Chile's chronic peso inflation in the 1950s forced a radical redenomination in 1960, when the escudo replaced the peso at a rate of 1 escudo to 1,000 pesos. Rather than print an entirely new low-denomination series immediately, the Casa de Moneda simply overprinted existing 50-peso stock with its new escudo-system equivalent — 5 centésimos. The overprint dates on catalog entries spanning 1959–1964 reflect both pre-reform preparation and the extended transitional period during which old peso notes continued circulating alongside new escudo issues.
Overprint adhesion quality varies noticeably across the run. Poorly struck examples exist where the surcharge is faint or slightly misaligned — worth examining closely before attribution.