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Currency (Paper Money) and Coinage of Chile: Pesos and Centavos (Part II): Historical
Evolution of Banknotes in Chile:
Historical
Development of Banknotes in Chile:
Between 1840 and 1844,
the first paper Banknotes were issued by the Treasury of the Province of
Valdivia. These Banknotes were in the denominations of 4 and 8 Reales.
In the 1870s,
several private Banks were issuing paper money. Some of these Banks were Banco de la Alianza, Banco Agricola, Banco
de Concepcion, Banco Consolidado de Chile, Banco Mobiliario, Banco Nacional de
Chile, Banco del la Union, Banco del Pobre, Banco Sud Americano, Banco del Sur,
Banco de Valparaiso, Banco de la Union et al followed by several other
Banks in the next two decades.
Generally the Banknotes
issued were in the following denominations – 1, 2, 5, 10, 20, 50, 100 and 500
Pesos.
In 1881, paper
money which was convertible into silver or gold was issued by the Government in
the denominations of 1, 2, 5, 10, 20, 50, 100 and 1000 Pesos.
In 1891, 50
Centavos Banknotes were circulated.
In 1898, the
Government issued Banknotes consisting of Banknotes issued by Private Banks, which
were overprinted with the inscription “Emision Fiscal”. This issue ended the
printing of Private Banks paper currency.
In 1912, 500 Pesos
Banknotes were circulated.
The
First Peso Banknotes (1925 – 1959):
In 1925, the Banco
Central de Chile (which was established in the same year) issued Banknotes in
the denominations of 5, 10, 50, 100 and 1000 Pesos which were essentially
overprints on Government Banknotes.
In 1927, Banknotes
marked “Billete Provisional” were
issued in the denominations of 5, 10, 50, 100, 500 and 1000 Pesos.
Between 1931 and 1933,
regular Banknotes were printed and circulated. These Banknotes were in the
denominations of 1, 5, 10, 10, 50, 100, 500, 1000, 5000 and 10000 Pesos.
In 1943, 1 Peso
Banknotes stopped being printed owing to rising costs of minting and inflationary
pressures.
In 1947, 20 Peso
Banknotes stopped being printed.
In 1958, a 50000
Peso Banknote was introduced.
Until 1959, the
“Old” Peso Banknotes continued to be printed whereafter the Escudo was
introduced in 1960.
From 1960 to 1975,
the Chilean Escudo was the circulating currency.
Escudo
Banknote (1960-1975):
In 1959,
provisional Banknotes were printed by the Banco Central de Chile. These were
essentially modified versions of the old Peso Banknotes with the Centesimo or
Escudo denominations added to the old Peso designs. The denominations included
in this issue were ½, 1, 5, 10 and 50 Centesimos and 1, 5, 10 and 50 Escudos.
In 1962, regular
Banknotes were circulated in the denominations of ½, 1, 5, 10, 50 and 100
Escudos.
In 1971, 500 Escudo
Banknotes were circulated.
In 1973, 1000 and
5000 Escudo Banknotes (depicting Jose Miguel Carrera) were circulated.
In 1974, 10,000 and
50,000 Escudo Banknotes (depicting Bernardo O’Higgins) were circulated.
The
Second Peso Banknotes: (1975 – Present day):
On 29.09.1975, the Second and Current Peso Series
was introduced, replacing the Escudo issues at an exchange rate of 1 Peso for
1000 Escudos.
In 1976, Banknotes
in the denominations of 5, 10, 50 and 100 Pesos were issued. Interestingly, the Backs of the lowest
denominations in these issues resembled the 5000, 10,000 and 50,000 Banknotes
which they sought to replace.
The
higher denomination Banknotes were thereafter introduced in a phased manner:
In May 1977, 500
Peso Banknotes were circulated.
In June 1978, 1000
Peso Banknotes were circulated.
In June 1981, 5000
Peso Banknotes were introduced.
In June 1989,
10,000 Peso Banknotes were circulated.
In December 1997,
2000 Peso Banknotes were issued.
In December 1998,
20,000 Peso Banknotes were circulated.
The
5, 10, 50, 100 and 500 Peso Banknotes were gradually replaced by coins. As such, only the 1000, 2000, 5000, 10,000
and 20,000 Banknotes remained in circulation.
Until 1984,
this Peso was sub-divided into 100 Centavos (which is the year the Centavo coins
stopped being minted and the lowest denomination coin became the 1 Peso coin).
Redesigned
versions of the four highest denominations were circulated in 2009 and 2010 and
the lower denominations were circulated thereafter.
Presently
circulating Banknotes:
The presently circulating
Banknotes were introduced by the Central Bank between 2009 and 2011, to
coincide with the Bicentennial celebrations of Chile’s Independence.
The Banknotes are printed
on two types of material. The
$1000, $2000 and $5000 Peso Banknotes are printed on Polymer substrate, while the $10000 and $20000 Peso
Banknotes are printed on Cotton
substrate.
These redesigned Banknotes have been printed by two Banknote printing majors –
the 1000, 2000 and 5000 Peso Banknotes have been printed by the Australian Company Note Printing
Australia Ltd (which has an expertise in printing polymer Banknotes),
while the 10,000 and 20,000 Peso Banknotes have been printed by the Swedish Company Crane AB (with
expertise in printing paper Banknotes on cotton paper).
The Banknotes have a uniform design and share common elements
such as the location of the numbers and signatures, the position of the
portraits, and the incorporation of symbols of Chile’s National identity.
The Fronts of the Banknotes depict important historical figures while the Backs of the Banknotes depict representative native fauna found in corresponding habitats and
landscapes from National Parks and Reserves from across the country.
Security
features on all denominations of Banknotes with the
redesigned versions have been greatly
strengthened, as such, they are much more difficult to counterfeit.
The use of bright colours, distinctive
textures and different sizes
for each denomination facilitates their recognition by the visually challenged
persons.
Interestingly, the 1000
Peso banknotes are nicknamed “Luca”,
500 Pesos are nicknamed “Quina” (in
Spanish “Quinientos” means “five
hundred), 100 Pesos are nicknamed “Gamba”,
5000 Pesos are nicknamed “Gabriela”,
10,000 Pesos are nicknamed “Arturo”
or “Artuito”, the 2000 Pesos Banknote
is nicknamed “two Lucas”, 5,000 Peso
Banknote is nicknamed “five Lucas”,10,000
Pesos Banknote is nicknamed “ten Lucas”.
Individual Banknotes Description:
A specimen of the Front of a 20000 Peso Banknote depicting Andres Bello
On the Front of the 20000 Pesos Banknote or “Viente Mil Pesos” (in Spanish) is depicted a portrait of Andres Bello (1781-1865), painted by French artist Raymond Monovoisin. The painting is anoil on canvas, presently kept at the University of Chile. To the left is a stylised Copihue, the National Flower of Chile.
On the Front of the 20000 Pesos Banknote or “Viente Mil Pesos” (in Spanish) is depicted a portrait of Andres Bello (1781-1865), painted by French artist Raymond Monovoisin. The painting is anoil on canvas, presently kept at the University of Chile. To the left is a stylised Copihue, the National Flower of Chile.
Andres
de Jesus Maria y Jose Bello Lopez (29.11.1781 – 15.10.1865):
He was a Venezuelan humanist, diplomat, poet, philosopher, educator and
philologist whose political and literary works constitute an important part of
Spanish American culture. His seminal work was on the 1852 Civil Code of Chile (on which he
worked for around 20 years and which was like Europe’s Napoleonic Code) which
was passed by the Chilean Congress in 1855 which was later adopted by both
Colombia and Ecuador. Chile’s Diplomatic Academy and the Andres Bello Catholic
University are named after him.
The
Antu is a Mapuche symbol that represents the sun and fertility. It is
incorporated in all the Banknotes in this series but in different ways. On the
$1000, $2000 and $5000 Banknotes, it changes from the colour of the Banknote to
gold when the Banknotes are tilted, whereas on the $10000 and $20000 Banknotes,
it is incorporated into the Security thread (Holographic strip) and moves when
the Banknote is tilted.
The
“Pillan” and “Antu”: The “Pillan”
(of “Mapudungun” origin) are powerful
and honoured male spirits in Mapuche mythology.
According to legend, the “Pillan” are good spirits that live in
the “Wenumapu” (meaning “a spiritual
world of the good”) and those that inhabit the earth generally live inside
volcanoes. In the Mapuche tradition, a man who follows the laws of the “admapu” can also become a “Pillan” after death.
As such, the Mapuche
perform a propitiation/appeasement ceremony called a “ngillatun” ceremony for the “Pillan”
for them to grant benefits to the people and to thank them for their gifts.
The “Antu” is the most powerful and principal “Pillan” spirit, who governs the other “Pillans”. In Mapuche mythology, Antu
represents the Sun and is married to “Keuyen”,
a “Wangulen” spirit that represents
the moon.
An image of the Chilean Bell-flower or Copihue
Chilean Bellflower or “Copihue” (Lapageria rosea): This is the National Flower of Chile. It grows in forests in the Southern part of Chile and is a part of the Valdivian temperate rain forests flora. It is an evergreen climbing plant and reaches over 10 metres high among shrubs and trees. The flowers have six thick waxy tepals which are red, spotted with white. The fruit is an elongated berry with a tough skin containing numerous small seeds covered by an edible fleshy aril.
Chilean Bellflower or “Copihue” (Lapageria rosea): This is the National Flower of Chile. It grows in forests in the Southern part of Chile and is a part of the Valdivian temperate rain forests flora. It is an evergreen climbing plant and reaches over 10 metres high among shrubs and trees. The flowers have six thick waxy tepals which are red, spotted with white. The fruit is an elongated berry with a tough skin containing numerous small seeds covered by an edible fleshy aril.
Interestingly,
the vines twine counter-clockwise in the Southern hemisphere and clockwise,
when grown in the Northern hemisphere.
The name of the fruit in Mapudungun is “kopiw” (derived from “kopun” meaning “to be upside down”). The
Mapuche call the plant “kolkopiw”
which has since become distorted as “Copihue”. Since 1977, the flower has been
given legal protection in Chile.
A specimen of the Back of the 20000 Peso Banknote depicting a landscape from the Salar de Surire National Monument
On the Back of 20000 Pesos Banknote is featured the “Salar de Surire” National Monument or “Monumento Natural Salar de Surire” (in Spanish), located in the extreme North of Chile, in the municipality of Putre in the Arica and Parinacota Region.
On the Back of 20000 Pesos Banknote is featured the “Salar de Surire” National Monument or “Monumento Natural Salar de Surire” (in Spanish), located in the extreme North of Chile, in the municipality of Putre in the Arica and Parinacota Region.
This Banknote was issued
in 2009.
The
“Salar de Surire” National Monument:
It covers 17,500 hectares
and has an altitude of 4245 metres. Its name derives from the Quechua word “suri” (meaning “flamingo”) and means
“the place where the flamingos are found”. The depiction of the landscape shows
a Chilean Flamingo, which inhabits shallow fresh and salt water wetlands throughout
the national territory – from Tarapaca in the North to Tierra del Fuego in the
South. The Bird is characterised by white or pinkish, with black tips on the
primary and secondary wing feathers that are most evident in flight.
There is an interesting
story of a Chilean Flamingo that lived in Tracy Aviary in the Liberty Park,
Salt Lake City, Utah, had through an oversight not been given his routine wing
clipping, to prevent him from flying away. The Flamingo escaped captivity and
became a local legend in the Salt Lake area and was nicknamed “Pink Floyd the
Flamingo". He used to winter in Utah and flew north to Idaho and Montana during
spring and summer. In 2005, he was last seen heading towards Idaho for the
spring.
The colour of this Banknote is copper orange.
On the Front of the 10000 Pesos Banknote or "Diez Mil Pesos"
(in Spanish) is depicted a portrait of Arturo Prat (1848-1879) developed on the basis of a painting
by Manual Antonio Caro kept in the collection of the Chilean Navy. To the left
is a design representing the heart of
a Copihue, the National Flower of Chile.
Augustin
Arturo Prat Chacon (03.04.1848 – 21.05.1879):
He was a Chilean lawyer and navy officer. During his career, he took part in
several major naval engagements including battles at Papudo (1865), and the
Battle of Abtao (1866). He was killed in the naval battle of Iquique, shortly
after boarding the Peruvian armoured monitor Huascar at the Naval Battle of
Iquique after the ship, under his command, the Esmeralda was rammed by the
monitor. Following his death, his name became a rallying cry for Chilean forces
and he was considered to be a National hero.
His name is commemorated
on numerous plazas, streets, buildings etc and four of Chile’s major warships
are named after him apart from Chile’s Antarctic research station and the
Chilean Naval Academy.
The
Antu which is a Mapuche symbol that represents the sun and fertility is
incorporated into the Security thread (the holographic strip) of this
denomination of Banknote and moves when the Banknote is tilted.
On the Back of the 10000 Pesos Banknote is depicted the Alberto de Agostini National Park or “Parque Nacional Alberto de
Agostini” (in Spanish), located in the extreme South of the
Magellanes and Chilean Antarctica Region with a condor in flight.
This Banknote was issued
in 2013.
Alberto
de Augustini National Park: is a Protected Area
created on land that was previously a part of “Hollanda” Forest reserve and
Hernando de Magallanes National Park. The Park is named after one of the most
important priests in Chilean history, Alberto Maria De Agostini who was an
Italian missionary, explorer, photographer and writer known for his
discoveries, photographs and maps of the region.
Covering an area of 14600
sq. km or 5637 sq. miles, it includes the Cordillera Darwin mountain range. The
Park has been designated a Biosphere Reserve by UNESCO in 2005.
The above is an image of a Chilean Condor
Condor:
Condor is the name given to two species of the New World vultures, each in a
monotypic genus. They are the largest flying land birds in the Western
Hemisphere – the Andean Condor (Vultur
gryphus) which inhabits the Andean mountains nd the California condor (Gymnogyps californianus) found in the
western coastal mountains and in the northern desert mountains of Arizona in
the USA and Mexico.
Wild condors inhabit large
territories, often travelling 250 km or 160 miles in a day in search of
carrion. Interestingly, the Moche people of ancient Peru who worshipped nature
and placed emphasis on animals and birds depicted condors in their art.
A pottery vessel (jug) from around 300 - 310 AD found in Lima, Peru made by the Moche people, patterned after a Condor
On the Front of the 5000 Pesos Banknote or "Cinco Mil Pesos" (in Spanish) is depicted
a portrait of Gabriela Mistral based on an unpublished photograph in the
collection of the Photographic Archive of the University of Chile. Behind and
to the left of the portrait is a design representing the heart of a Copihue, the National Flower of Chile.
The
Antu which is a Mapuche symbol that represents the sun and fertility is
incorporated into the design of this Banknote.
Gabriela
Mistral (07.04.1889 – 10.01.1957): was the pseudonym of
Lucila Godoy y Alcayaga, a Chilean poet-diplomat, educator and feminist. She
was the first Latin American and the only Ibero-American woman to receive the
Nobel Prize in Literature which she won in 1945 for her lyric poetry which
inspired by powerful emotions has made her a symbol of the idealistic aspirations
of the entire Latin American world.
On the Back of the 5000 Pesos Banknote is depicted the La Campana National Park or “Parque
Nacional La Campana” (in Spanish), the site of one of the few
remaining forests of native Chilean
palm trees, together with a Magellanic Horned Owl which is found from Tarapaca to Tierra del Fuego.
This Banknote was issued
in 2013.
La
Campana National Park : is located in the Cordillera de la
Costa, Quillota Province. La Campana National Park and the Vizcachas Mountains
lie North-west of Santiago. This National Park covers 80 sq. km or 31 sq. miles
and is home to one of the last palm forests of Jubaea chilensis (or “Chilean
Wine Palm”) which occur in the Ocoa Valley. In 1984, the Park was designated as
a Biosphere Reserve.
Megallanic Horned Owls - An adult male is on the left and an adult female is on the right
Magellanic
Horned Owl (Bubo magellanicus): This is a large owl of the Gunus Bubo found
in Southern South America, extending North to the Central Andes. It is about 45
cm (or 18 inches long), has broad wings and a large head with two “ear tufts”.
The bird’s local name “tucuquere” imitates its deep hooting call. The bird
occurs in a variety of habitats including open forests, scrubland, farmland and
grassland.
On the Front of the 2000 Pesos Banknote or “Dos Mil Pesos” (in Spanish) is
depicted a portrait of Manuel
Rodriguez (1785 – 1818) based on an engraving by Narciso Desmadryl in
1854. To the left of the portrait is a design representing the heart of a Copihue, the National
Flower of Chile.
The
Antu which is a Mapuche symbol that represents the sun and fertility is
incorporated into the design of this Banknote. The laminated image changes
colour from Purple to gold when the Banknote is tilted.
Manuel
Xavier Rodriguez Erdoiza (27.02.1785 – 26.05.1818):
He was a Chilean lawyer and Guerrilla leader, considered to be one of the
founders of independent Chile.
On the Back of the 2000 Pesos Banknote is depicted images from the Nalcas Reserve or “Reserva Nacional Nalcas” (in Spanish). Also seen on this
Face are the Longuimay and Tolhuaca Volcanoes and a slender beaked parrot.
This Banknote was issued
in 2012.
Nalcas
Reserve: In the Araucaria Region, about 180
kilometres from the Regional Capital of Temuco, the Nalcas Reserve extends over
an area of 21,164 hectares and includes the Longuimay Volcano, with a peak of
2820 metres and the Tolhuaca Volcano at 2805 metres. In Mapudungun, the Mapuche
language, Nalca is the name of an
edible Chilean rhubarb.
Slender
Beaked Parrot (Enicognathus leptorhynchus):
is a medium sized South American parrot. It belongs to the smaller long-tailed
Arinae (Macaws and Parakeets) and is known by its local name “choroy”.
Exclusive to Southern
Chile, the slender billed parakeet is mainly found in large forests from Mount
Aconcagua to the island of Chiloe and rarely spotted in Aysen. Its general
coloration is dark green, with a red spot between the eyes and an inconspicuous
red spot on the breast.
A specimen of the Front of a 1000 Peso Banknote depicting Ignatio Carrera Pinto
On the Front of the 1000 Pesos Banknote or “Mil Pesos” (in Spanish) is depicted a portrait of Ignacio Carrera Pinto (1848-1882) based on a 1982 painting by Juan Manuel Huidobro, kept in the collection of the Military school of the Chilean Army. To the left of the portrait is a design representing the heart of a Copihue, the National Flower of Chile.
On the Front of the 1000 Pesos Banknote or “Mil Pesos” (in Spanish) is depicted a portrait of Ignacio Carrera Pinto (1848-1882) based on a 1982 painting by Juan Manuel Huidobro, kept in the collection of the Military school of the Chilean Army. To the left of the portrait is a design representing the heart of a Copihue, the National Flower of Chile.
Ignatio
Carrera Pinto (05.02.1848 – 10.07.1882): He was a Chilean
hero of the War of the Pacific. In 1879, he enrolled in the Esmeralda”
battalion during the War of the Pacific between Chile and the Allied forces of
Peru and Bolivia. He took part in the Lima Campaign and in the Sierra Campaign
during which he was killed at the Battle of La Concepcion. Carrera was at the
head of the Chilean Army’s Fourth Company of Charcabuco, formed by 77 men who
were guarding the Peruvian town of La Concepcion. On 10.07.1882, La Concepcion
was attacked by a400 strong Peruvian regular soldiers and large groups of
natives, which were part of the forces of Andres Caceres, a Peruvian officer,
who was conducting a guerrilla war against Chile. Despite being greatly
outnumbered and out of ammunition, the Chilean soldiers fought to the last man
in a bayonet charge on the Peruvian attackers.
In Chile, Carrera and his
77 men are regarded as great heroes and are referred to as “los Heroes de la
Concepcion”.
The
Antu which is a Mapuche symbol that represents the sun and fertility is
incorporated into the design of this Banknote. The laminated image changes
colour from green to gold when the Banknote is tilted.
A specimen of the Back of a 1000 Peso Banknote depicting Guanacos in the Torres del Paine National Park
On the Back of the 1000 Pesos Banknote is depicted images from the Torres del Paine National Park or “Parque Nacional Torres Del Paine” (in Spanish). The Guanaco, a wild camelid native to the Andes Mountains is also depicted on this face.
On the Back of the 1000 Pesos Banknote is depicted images from the Torres del Paine National Park or “Parque Nacional Torres Del Paine” (in Spanish). The Guanaco, a wild camelid native to the Andes Mountains is also depicted on this face.
Torres
del Paine National Park is a World Biosphere reserve situated
in ultima Esperanza Province in the Magallanes and Antarctica Chilean Region,
145 kilometres North of Puerto Natales. The park was created in 1959 and covers
over 240,000 hectares. The spectacular landscapes and rock formations have made
Torres del Paine a unique internationally recognised Park of breathtakingly
beautiful natural formations.
An image of a Guanaco - a wild Camelid found in the Andes
The Guanaco is a wild camelid native to the Andes Mountains. It
is found from Peru to Tierra del Fuego, generally in areas with little human
activity. Its colouring is a light reddish brown with white underparts. The
Guanaco is the largest animal in Patagonia, with the exception of marine mammals)
and its name is derived from the Quechua “Wanaku”
also pronounced as “Huanaco”. Young
Guanacos are called “chulengos”. Guanacos are one of the largest wild mammal
species found in South America along with the Manatee, the Tapir and the
Jaguar.
(The above Banknotes are from the Collection of Jayant Biswas. Banknotes scanned and Post researched and written by Rajeev Prasad)
Links:
1) Historical Evolution of Paper Money (Banknotes) in Chile
2) Brief history of Evolution of Coinage of Chile
1) The Travels of a silver Mexican Peso struck in 1898 and restruck in 1949 for the Chinese Government
2) Brazilian Currency: Brazilian Real
3) The 31st Summer Olympics 2015 or Rio-2016 - Brazil
4) Currency and Coinage of Guatemala
5) Banknotes and Coinage of Colombia (Part I)
6) Banknotes and Coinage of Colombia (Part II)
7) Currency and Coinage of Mexico - Pesos and Centavos (Part I)
8) Currency and Coinage of Mexico - Pesos and Centavos (Part II)
9) Evita or Eva Peron - A Commemorative/Circulating 100 Pesos Banknote issued on her in 2012
10) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part I)
11) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part II)
12) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part III)
13) 2014 FIFA World Cup held at Brazil
Links:
1) Historical Evolution of Paper Money (Banknotes) in Chile
2) Brief history of Evolution of Coinage of Chile
Links to some other interesting posts on South American countries & Mexico:
1) The Travels of a silver Mexican Peso struck in 1898 and restruck in 1949 for the Chinese Government
2) Brazilian Currency: Brazilian Real
3) The 31st Summer Olympics 2015 or Rio-2016 - Brazil
4) Currency and Coinage of Guatemala
5) Banknotes and Coinage of Colombia (Part I)
6) Banknotes and Coinage of Colombia (Part II)
7) Currency and Coinage of Mexico - Pesos and Centavos (Part I)
8) Currency and Coinage of Mexico - Pesos and Centavos (Part II)
9) Evita or Eva Peron - A Commemorative/Circulating 100 Pesos Banknote issued on her in 2012
10) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part I)
11) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part II)
12) Currency and Coinage of Peru: Nuevo Sol and Centavo (Part III)
13) 2014 FIFA World Cup held at Brazil
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