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10 Pesos

Issuer Dirección del Tesoro
Year 1922
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Composition Cotton paper
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Reverse description The reverse is printed in brown tones and centers on an oval intaglio vignette of a classical female allegory standing in draped robes, holding a staff, with a small animal at her feet. To the left is a large blank oval reserve panel surrounded by ornate guilloche scrollwork, while the denomination is rendered in large numerals 10 to the right alongside the vertical word DIEZ and PESOS in bold letterpress. The imprint IMPta FISCAL — CHILE appears at the lower center.
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Protection description Two circular Dirección del Tesoro, Santiago control cancellation overprints applied at left and right of the obverse face.
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Comments

The Dirección del Tesoro issues are among the more bureaucratically interesting Chilean emissions of the early 1920s — produced not by a central bank but by the Treasury directorate itself, at a moment when Chile's monetary framework was fractured between multiple issuing authorities. The Imprenta Fiscal de Chile, the government's own fiscal press in Santiago, handled production, which kept the entire operation — authorization, printing, and distribution — within a single administrative structure.

The overprint stamp on this series functioned as a control mechanism, distinguishing authorized circulation stock from unissued reserves. Notes lacking a clean, fully legible stamp are frequently encountered and trade at a discount accordingly.

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