500 Pesos 2000 in Obverse

Chile's bimetallic 500 peso was introduced in 2000 as part of a broader modernization of the circulating series, replacing the single-metal version that had struggled with counterfeiting. The denomination had existed in banknote form for decades before the monetary authority determined a coin more practical for daily transit fares and market transactions in Santiago.

The aluminium bronze and nickel silver pairing was specifically chosen for its resistance to electrochemical wear in high-velocity circulation — a lesson drawn from earlier Chilean bimetallics that had shown premature ring separation under heavy use.