500 Pesos 50 Condores

Chile's postwar inflation was severe enough that by the mid-1950s the peso had lost most of its practical purchasing power, and this denomination — large when first issued in 1947 — had become routine transaction money within a decade. The dual designation of 500 Pesos / 50 Cóndores reflects the transitional accounting system in which the Cóndor, equal to ten Pesos, ran as a parallel unit of account before the 1960 monetary reform replaced everything with the Escudo at a rate of 1,000 Pesos to 1 Escudo.

Printed domestically by the Talleres de Especies Valoradas — Chile's own security printing facility — rather than contracted abroad, which was the more common arrangement for Latin American issues of this period. The series ran for over a decade with minimal design changes, a span that makes precise dating of individual notes difficult without examining the signature combinations, of which several distinct pairings exist across the P#115 type.