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1/2 Centesimo Overprint on 5 Pesos P#119
| Issuer | Banco Central de Chile |
|---|---|
| Year | 1960-1961 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Paper |
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| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | BANCO CENTRAL DE CHILE 5 CINCO PESOS 1/2 CENTESIMO DE ESCUDO (Translation: Central Bank of Chile Five Pesos Half cent of Escudo) |
| Signature(s) | Log in to see details |
| Protection type | Log in to see details |
| Protection description | Portrait of Diego Portales |
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| Comments |
Chile's 1960 monetary reform replaced the peso with the escudo at a rate of 1,000 to 1, requiring the central bank to rapidly revalue its entire existing note stock before new designs could be printed. The solution was a nationwide overprint program — existing peso notes had their denominations mechanically restamped to express the equivalent escudo value, producing fractional centesimo denominations that would otherwise never have justified a dedicated print run.
The 1/2 centesimo equivalent — five old pesos — is among the smallest face values the overprint series generated. These circulated briefly; the escudo's own inflation problems meant the lowest denominations became economically irrelevant within a few years.