1 Peso

Banco de Melipilla was a provincial Chilean bank operating under the 1860 Ley de Bancos, which permitted regionally chartered institutions to issue their own currency — a system that produced dozens of competing private banknotes across Chile before the state finally consolidated issuance in the 1880s. Melipilla, a small agricultural town southwest of Santiago, was an unlikely seat for a note-issuing bank, and the institution was correspondingly short-lived.

The American Bank Note Company contract is unsurprising for the period; ABNC dominated Latin American private bank printing through the 1870s and 1880s. What the Pick reference doesn't capture is how rarely these provincial Chilean issues surface — Melipilla's limited commercial reach meant small print runs and even smaller survival rates.