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1 Centesimo Overprint on 10 Pesos P#120
| Issuer | Banco Central de Chile |
|---|---|
| Year | 1958-1961 |
| Type | Log in to see details |
| Value | 1 Centésimo (0.01) |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
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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 | BANCO CENTRAL DE CHILE DIEZ PESOS UN CONDOR CONVERTIBLES EN ORO CONFORME A LA LEY CASA DE MONEDA DE CHILE (Translation: Central Bank of Chile Ten Pesos One Condor Convertible in gold according to the Law. Chile Mint) |
| Reverse description | Log in to see details |
| Reverse lettering | Log in to see details |
| Signature(s) | Arturo Maschke Tornero & Felipe Herrera Lane Eduardo Figueroa Geisse & Luis Mackenna Shiell Arturo Maschke Tornero & Luis Mackenna Shiell |
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| Comments |
Chile's chronic inflation during the late 1950s forced the Banco Central into the awkward position of issuing fractional centesimo notes — denominations worth a tiny fraction of their face value in real purchasing power terms. This note exists because the 1960 monetary reform replaced the peso at a rate of 1,000 old pesos to 1 new escudo, with centesimos as the subunit; overprinting existing peso stock was cheaper and faster than commissioning an entirely new print run from the Casa de Moneda.
The overprint itself is the whole story here. One centesimo on a ten-peso note is not a correction — it's a ratio of 1:10,000, stamped directly onto circulating stock.