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20 Pesos

Issuer Dirección del Tesoro
Year 1900-1904
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Currency Peso (1875-1931)
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Obverse description Black on red underprint; a flower girl vignette at left and a male figure at left center flank a building vignette at right. An ornate fringe border frames the lower margin, which carries the denomination legend VEINTE PESOS in bold letterpress.
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Reverse description Printed entirely in red; a central guilloche panel bears the bold letterpress inscription REPÚBLICA DE CHILE flanked above by VEINTE and below by PESOS. Denomination numeral 20 appears in large figures within ornate medallion vignettes at left and right, with intricate lathe-work borders filling the entire field.
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The Dirección del Tesoro was Colombia's treasury note-issuing body during a period of severe monetary instability — the Thousand Days War (1899–1902) wrecked public finances so thoroughly that paper currency issued before, during, and immediately after the conflict became nearly worthless in practical terms. Notes from this series circulated against a backdrop of rampant inflation and a collapsed exchange rate, which means heavily worn survivors are far more common than clean ones.

Waterlow & Sons handled the printing in London, a standard arrangement for Latin American governments that lacked domestic intaglio capacity. The P#23 designation covers the full 1900–1904 span, so date-specific examples are worth distinguishing.

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