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50 Centesimos Overprint on 500 Pesos P#115
| Issuer | Banco Central de Chile |
|---|---|
| Year | 1960-1961 |
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| Value | Log in to see details |
| Currency | Escudo (1960-1975) |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | The reverse reproduces a scene of the arrival of Diego de Almagro in Chile in a large central vignette, surrounded by ornate guilloche borders. A red letterpress overprint carries the new denomination in Escudos, superimposed over the original design of the P#115 500 Pesos note. The overall colour scheme of the reverse is dominated by the contrast between the underlying printed design and the bold red overprint text. |
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| Protection description | Portrait watermark of Diego Portales |
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| Comments |
Chile's 1960 monetary reform slashed the peso by a factor of 1,000, creating the escudo and forcing the Central Bank to overprint existing stock rather than wait for freshly designed currency. This note is a direct product of that stopgap — a 500 Pesos note hand-stamped or mechanically overprinted to read 50 Centesimos de Escudo, reflecting the precise conversion ratio. The Talleres de Especies Valoradas handled both the original printing and the overprint work in-house, which kept the operation under state control but introduced noticeable inconsistencies in overprint placement across the series.
Overprint adhesion on these is worth scrutiny — ink separation from the base note is a documented issue on worn examples.