1 Escudo

Chile's escudo coinage of the 1830s was produced under considerable institutional strain — the Casa de Moneda in Santiago had only recently transitioned from colonial administration to republican control, and quality control across this period was inconsistent enough that die alignment and planchet preparation vary noticeably between individual strikes. The 1838 date falls within a window when Chilean fiscal policy was being restructured under the Portales-era conservative government, which prioritized monetary stability after decades of post-independence economic turbulence.

KM#99 survivors in any condition above Fine are genuinely scarce. The low original mintage, combined with heavy domestic circulation, accounts for most of the attrition.