Chilean Peso

The minting of silver pesos began in 1817 in Santiago, these were the first coins of America with the denomination in pesos. The monetary system used was the same as in other Spanish possessions of America: 1 escudo = 2 pesos = 16 reais.

In 1851, the decimal system was introduced: 1 peso = 10 decim = 100 centavos, but coinage in 1/2 and 1 centavo was started in 1835.

In 1895, a gold content of 0.549175 g of pure gold was established, which corresponded to the exchange rate: 1 peso = 16 English pence. In 1925, the gold content was reduced to 0.183057 g, which corresponded to the exchange rate: 1 peso = 6 English pence. In April 1932, the exchange of banknotes for gold was stopped.

Due to inflation, the use of centavo was discontinued in 1955.

On January 1, 1960, a new monetary unit was introduced - 1 escudo (= 100 centesimo), pesos were exchanged for escudos 1000: 1.

Despite the monetary reform, until 1980, investment gold coins with denominations in “old pesos” continued to be minted.

On September 29, 1975, instead of the escudo, the peso was reintroduced, the escudos were exchanged for 1000: 1 pesos.

During the dictatorship, on the obverse of coins of 5 and 10 pesos, the image of a winged woman breaking the chains was used, signed LIBERTAD (freedom) and the date of the military coup of September 11, 1973 - the figure symbolized "liberation from Marxism." After the restoration of civil power in Chile, the design of the coins was changed, on the obverse there is an image of the national hero Bernardo O'Higgins , already used on coins of other denominations. Later, other images appeared on coins with a large denomination (for example, a woman of the Mapuche people).

50 Peso Coin 2008 Edition

In 2008, the Chilean Mint issued a batch of 50 pesos with a typo on the obverse : next to the portrait of Bernardo O'Higgins, instead of “Chi l e” was written “Chi i e”.

After discovering the error in February 2010, Gregorio ьñiguez, head of the Chilean mint, was fired ^{[1] [2]} . However, defective coins were not withdrawn from circulation; at the same time, on some auction sites there were offers to sell such coins at a price of 350 to 20,000 pesos ^[3] .

The original sketch of the 1981 coin was made by the medalist René Thénot ( FR René Thénot ) ^[4] (1893-1963).

Chile is currently using a free-floating exchange rate regime . The criterion for the effectiveness of the exchange rate policy ( exchange rate anchor ) are inflation indicators.

cmoneda.cl (Spanish) - The official website of the Chilean Mint

• Images of banknotes and coins of the Chilean peso (catalogofmoney.com)
• Chile Banknote Gallery (German )