Chilean escudo

The escudo was the currency of Chile between 1960 and 1975, divided into 100 centésimos. It replaced the (old) peso at a rate of 1 escudo = 1000 pesos and was itself replaced by a new peso, at a rate of 1 peso = 1000 escudos. The symbol Eº was used for the escudo.

History Through Law 13,305, published on April 6, 1959, the escudo entered into circulation on January 1, 1960, replacing the old peso. Its equivalence was Eº 1 = $1000 (pesos). The escudo was subdivided into centésimos. As the old banknotes had to be replaced, the Central Bank took the provisional measure of authorizing the overstamping of the existing banknotes of 10, 50, 100, 500, 1,000, 5,000, 10,000 and 50,000 pesos. They had printed in red ink, in the white oval of the watermark on the right side of the back, the equivalent of their value in escudos, according to the exchange rate $1000 = Eº 1. The overstamping of the banknotes began in November 1959.

On December 31, 1973, by decree law 231, it was established that all payments should be made in whole escudos, eliminating the centésimos. Through decree law 1123, published on August 4, 1975, Chile returned to the peso. The equivalence was $1 = Eº 1000.

Coins In 1960, aluminium 1 centésimo and aluminium-bronze 2, 5 and 10 centésimo coins were introduced, followed by aluminium centésimo in 1962. In 1971, a new coinage was introduced, consisting of aluminium-bronze 10, 20 and 50 centésimos and cupro-nickel 1, 2 and 5 escudos. This coinage was issued for two years, with aluminium 5 escudos produced in 1972. In 1974 and 1975, aluminium 10 escudos and nickel-brass 50 and 100 escudos were issued.

Denomination Issue Material DiameterObverse Ref.Reverse centésimo 1962-1963 Aluminum 25 mmCondor Denomination surrounded by two ears of wheat 1 centésimo 1960-1963 28 mmCondorDenomination surrounded by two ears of wheat 2 centésimos 1960-1970 Bronze-aluminum 20 mmCondorDenomination surrounded by two ears of wheat 5 centésimos 1960-1971 23.3 mmCondorDenomination surrounded by two ears of wheat 10 centésimos 1960-1970 27.2 mmCondorDenomination surrounded by two ears of wheat 1971-1972 18.1 mmEffigy of Bernardo O'Higgins National coat of arms and denomination 20 centésimos 20 mmEffigy of José Manuel BalmacedaNational coat of arms and denomination 50 centésimos 21.9 mmEffigy of Manuel Rodríguez ErdoízaNational coat of arms and denomination 1 escudo Nickel silver 18.9 mmEffigy of José Miguel CarreraNational coat of arms and denomination 5 escudos 23 mmLautaro riding a horseNational coat of arms and denomination 1974 Aluminum 22.8 mmLautaro riding a horseNational coat of arms and denomination 10 escudos 1974-1975 24.9 mmCondor Denomination surrounded by two laurel branches 50 escudos Bronze-aluminum 21.5 mmCondorDenomination surrounded by two laurel branches 100 escudos 23.5 mmCondorDenomination surrounded by two laurel branches

Banknotes In 1959, provisional banknotes were produced by the Banco Central de Chile. These were modified versions of the old peso notes, with the centésimo or escudo denomination added to the design. Denominations were , 1, 5, 10 and 50 centésimos, 1, 5, 10 and 50 escudos.

On 22 July 1960, the 1 escudo banknote began to circulate, and on August 1 of the same year the escudo banknote entered circulation. In 1962 new designs were introduced, in denominations of 5, 10 and 50 escudos. On 6 September 1968, the 100 escudos note was put into circulation, and in September 1970 a new smaller 10 escudos note was presented. On 7 July 1972, the 500 escudos banknote began to circulate. On 12 July 1973, E° 1000 banknote was introduced, and in November of that same year, after the coup d'état, the Eº 5000 banknote, whose printing had begun at the beginning of September. Finally, in 1974, the denomination of 10,000 escudos was introduced.

DenominationIssueColorDimensionsObverseRef.Reverse escudo50 centésimos1960-1971Blue145 × 70 mmEffigy of Bernardo O'Higgins.Arrival of Almagro to Chile, by Pedro Subercaseaux.1 escudo1960-1971BrownEffigy of Arturo Prat.Foundation Santiago, by Pedro Lira.5 escudos1963-1971Reddish brownEffigy of Manuel Bulnes.Battle of Rancagua, by Pedro Subercaseaux.10 escudos1962-1970Garnet178 × 83 mmEffigy of José Manuel Balmaceda.Hug of Maipú, by Pedro Subercaseaux.1970-1972Brown145 × 70 mmEffigy of José Manuel Balmaceda.Hug of Maipú, by Pedro Subercaseaux.1972-1974SepiaEffigy of José Manuel Balmaceda.Hug of Maipú, by Pedro Subercaseaux.50 escudos1962-1974Green178 × 83 mmEffigy of Arturo Alessandri Palma.Banco Central de Chile building.100 escudos1967-1974BlueEffigy of Manuel Rengifo.Liberating Expedition of Peru, by Thomas Somerscales.500 escudos1971-1975Carmine rose145 × 70 mmEffigy of a miner, on the occasion of the nationalization of copper in 1971.Chuquicamata mine.1000 escudos1973-1975Purplish blueEffigy of José Miguel Carrera.House of the Carrera family.5000 escudosGreenEffigy of José Miguel Carrera.House of the Carrera family.10000 escudos1974-1975Salmon redEffigy of Bernardo O'Higgins.Battle of Rancagua, by Pedro Subercaseaux.

Chilean escudo

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