1 Peso small issue

Chile's peso had been decimated by inflation through the 1970s, and by the time this small-format issue entered production in 1981, a single peso was already a near-worthless denomination — retained more for accounting convenience than genuine purchasing power. The Pinochet government's Chicago Boys-influenced monetary reforms had technically stabilized the economy, but the 1 peso never recovered functional relevance in daily commerce.

Production continued through 1992 largely by institutional inertia before the denomination was quietly phased out of practical circulation.