2 Pesos

Chile's 1927 coinage reform was driven by the Kemmerer Mission — a team of American financial advisors led by Princeton economist Edwin Kemmerer, hired to stabilize a peso that had been off the gold standard and in chronic depreciation for decades. The reforms restructured the entire monetary system and directly prompted the new silver types, including this denomination.

The .500 fineness was a deliberate compromise, reducing silver content to stretch reserves while maintaining a coin heavy enough to feel credible in trade.