50 Centesimos Overprint on 500 Pesos P#115

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.