5 Pesos

Banco de Melipilla was a provincial Chilean institution, one of dozens of small regional banks that briefly issued their own currency under the 1860 Banking Law before the state moved to consolidate note-issuing authority. The American Bank Note Company supplied engraved plates to a remarkable number of these Chilean provincial banks in the 1880s — Melipilla was a small agricultural center southwest of Santiago, and its bank's circulation would have been modest and geographically narrow.

The 1860 law was repealed in 1898, forcing redemption and liquidation of all private bank issues. Survivors from low-circulation provincial banks like this one are genuinely scarce for that reason.