1 Peso

Banco de Concepción was one of several Chilean provincial banks authorized under the 1860 Ley de Bancos, which allowed private institutions to issue their own circulating notes — a decentralized arrangement that persisted until the Banco Central de Chile consolidated issuance authority in the 1920s. The American Bank Note Company handled engraving and printing for a number of these Chilean provincial issuers during the latter half of the 19th century, often supplying high-security intaglio work that local printers could not match.

Concepción, the issuing city, was the commercial hub of Chile's southern provinces, giving this note a genuine regional circulation role rather than merely a nominal one.