5 Pesos 1/2 Condor

The Banco Central de Chile was established by law in August 1925, largely at the instigation of the Kemmerer Mission — the American financial advisory team led by Edwin Kemmerer that swept through several South American republics in the 1920s restructuring their central banking systems. This note belongs to the bank's first circulating series, issued almost immediately after the institution opened for business, replacing the fragmented note-issuing landscape of the private banks it superseded.

Printed domestically by the Talleres de Especies Valoradas rather than contracted abroad — unusual for a newly established central bank of that period, which typically relied on European or North American security printers for prestige and technical capacity.