5 Centavos

Chile's 1976 coinage was produced under the military junta that had seized power in September 1973. The shift to aluminium for this denomination reflected the broader economic restructuring underway — the junta's adoption of Chicago School monetarist policies had triggered severe austerity, and reducing metal content in low-value coinage was one of several practical responses to inflation that had exceeded 600% annually under the preceding Allende government.