10 Escudos

The escudo replaced the peso in 1960 at a rate of 1,000 pesos to one escudo — a redenomination forced by years of severe inflation that had made the peso nearly unworkable for everyday transactions. Chile had been printing higher and higher peso denominations through the late 1950s; the new currency was meant to signal a fresh monetary start under the Alessandri administration.

Printed domestically by the Casa de Moneda rather than contracted abroad, as many Latin American issues of the period were. The escudo itself didn't last — chronic inflation continued, and by 1975 the peso had been reinstated.