2 Pesos

Banco Consolidado de Chile was one of several private Chilean banks authorized to issue notes under the 1860 Ley de Bancos, which permitted commercial institutions to circulate their own paper currency — a system that persisted until the Estado finally consolidated note-issuing authority in the early twentieth century. The American Bank Note Company handled engraving and printing for a significant portion of Chile's private bank notes during this period, supplying institutions that lacked any domestic high-security printing infrastructure.

The S-prefix in the Pick reference reflects its private issuer status. Survivor rates for low-denomination Chilean private bank notes from the 1870s are generally poor — small values circulated hardest and were redeemed or destroyed in higher proportions than larger denominations.