4 Reales

The Tesorería y Aduana Unidas de Valdivia was not a bank — it was a combined treasury and customs house operating in one of Chile's more isolated southern ports. Notes issued under this authority circulated in a regional economy largely cut off from Santiago, where obtaining hard coin was a persistent logistical problem. The 4 reales denomination addressed day-to-day transactional needs that silver simply couldn't meet reliably in the 1840s south.

Surviving examples are rare. Provincial Chilean fiscal paper from this period was printed in small runs, used hard, and rarely preserved intentionally.