500 Pesos 150th Anniversary of National Flag

Chile's 150th anniversary of its national flag fell in 1968, commemorating the banner first adopted in 1818 following independence from Spain. This issue was struck by the Casa de Moneda de Chile at a time when the mint was producing a range of gold commemoratives aimed largely at collectors and foreign buyers rather than domestic circulation — Chilean monetary policy of the late 1960s was under considerable strain as the Frei Montalva government grappled with copper price volatility and inflation.

At just over 101 grams of .900 gold, pieces of this weight were effectively presentation objects from the outset. The KM#187 designation places it among a small cluster of large-format Chilean gold commemoratives with very limited documented mintage figures.