5 Escudos

Chile's escudo replaced the peso in 1960 at a rate of 1,000 to 1, itself a response to chronic inflation — yet by the time this coin was struck, the escudo was already losing ground to the same pressures it had been designed to escape. The Allende government's nationalisation of copper mines in 1971 was broadly popular, but price controls and accelerating money supply growth were quietly hollowing out purchasing power. A 5 escudo piece bought progressively less with each passing month.

The escudo system lasted only until 1975, when the military junta redenominated again — this time at 1,000 escudos to the new peso.