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Chilean escudo

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From Wikipedia, the free encyclopedia

Currency of Chile between 1960 and 1975

For other coins, seeEscudo.

Chilean escudo
escudo chileno (Spanish)
Unit
Symbol	Eº‎
Denominations
Subunit
1⁄100	centésimo
Banknotes	½,1,5,10,50,100,500,1000,5000,10000 escudos
Coins	½, 1, 2, 5, 10, 20, 50 centésimos 1, 5, 10, 50, 100 escudos
Demographics
Date of introduction	1 January 1960
Replaced	Chilean peso
Date of withdrawal	29 September 1975
Replaced by	Chilean peso
User(s)	Chile
Issuance
Central bank	Banco Central de Chile
Website	www.bcentral.cl
Mint	Casa de Moneda
Website	www.cmoneda.cl
This infobox shows the latest status before this currency was rendered obsolete.

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

History

[edit]

Through Law 13,305, published on April 6, 1959, the escudo entered into circulation on January 1, 1960, replacing the old peso.^[1] Its equivalence was Eº 1 = $1000 (pesos). The escudo was subdivided intocentésimos. 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.^[2]

On December 31, 1973, by decree law 231, it was established that all payments should be made in whole escudos, eliminating the centésimos.^[3] Through decree law 1123, published on August 4, 1975, Chile returned to the peso. The equivalence was $1 = Eº 1000.^[4]

Coins

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In 1960, aluminium 1 centésimo and aluminium-bronze 2, 5 and 10 centésimo coins were introduced, followed by aluminium1⁄2 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	Diameter^[5]	Obverse	Ref.
Denomination	Issue	Material	Diameter^[5]	Reverse	Ref.
1⁄2 centésimo	1962-1963	Aluminum	25 mm	Condor	^[1]
1⁄2 centésimo	1962-1963		25 mm	Denomination surrounded by two ears of wheat
1 centésimo	1960-1963		28 mm	Condor
1 centésimo	1960-1963		28 mm	Denomination surrounded by two ears of wheat
2 centésimos	1960-1970	Bronze-aluminum	20 mm	Condor
2 centésimos	1960-1970		20 mm	Denomination surrounded by two ears of wheat
5 centésimos	1960-1971		23.3 mm	Condor
5 centésimos	1960-1971		23.3 mm	Denomination surrounded by two ears of wheat
10 centésimos	1960-1970		27.2 mm	Condor
	1960-1970		27.2 mm	Denomination surrounded by two ears of wheat
	1971-1972		18.1 mm	Effigy ofBernardo O'Higgins	^[6]
			18.1 mm	National coat of arms and denomination
20 centésimos			20 mm	Effigy ofJosé Manuel Balmaceda
20 centésimos			20 mm	National coat of arms and denomination
50 centésimos			21.9 mm	Effigy ofManuel Rodríguez Erdoíza
50 centésimos			21.9 mm	National coat of arms and denomination
1 escudo		Nickel silver	18.9 mm	Effigy ofJosé Miguel Carrera
1 escudo			18.9 mm	National coat of arms and denomination
5 escudos			23 mm	Lautaro riding a horse
			23 mm	National coat of arms and denomination
	1974	Aluminum	22.8 mm	Lautaro riding a horse
	1974		22.8 mm	National coat of arms and denomination
10 escudos	1974-1975		24.9 mm	Condor	^[7]
10 escudos			24.9 mm	Denomination surrounded by two laurel branches
50 escudos		Bronze-aluminum	21.5 mm	Condor
50 escudos			21.5 mm	Denomination surrounded by two laurel branches
100 escudos			23.5 mm	Condor
100 escudos			23.5 mm	Denomination surrounded by two laurel branches

Banknotes

[edit]

In 1959, provisional banknotes were produced by theBanco Central de Chile. These were modified versions of the old peso notes, with the centésimo or escudo denomination added to the design. Denominations were1⁄2, 1, 5, 10 and 50 centésimos, 1, 5, 10 and 50 escudos.

On 22 July 1960, the 1 escudo banknote began to circulate,^[8] and on August 1 of the same year the1⁄2 escudo banknote entered circulation.^[9] 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,^[10] and in September 1970 a new smaller 10 escudos note was presented.^[11] On 7 July 1972, the 500 escudos banknote began to circulate.^[12] On 12 July 1973, E° 1000 banknote was introduced,^[13] 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.^[14] Finally, in 1974, the denomination of 10,000 escudos was introduced.

Denomination	Issue	Color	Dimensions	Obverse	Ref.
Denomination	Issue	Color	Dimensions	Reverse	Ref.
1⁄2 escudo 50 centésimos	1960-1971	Blue	145 × 70 mm	Effigy ofBernardo O'Higgins.	^[15]
1⁄2 escudo 50 centésimos	1960-1971	Blue		Arrival ofAlmagro toChile, byPedro Subercaseaux.	^[15]
1 escudo	1960-1971	Brown		Effigy ofArturo Prat.	^[16]
1 escudo	1960-1971	Brown		FoundationSantiago, byPedro Lira.	^[16]
5 escudos	1963-1971	Reddish brown		Effigy ofManuel Bulnes.	^[17]
5 escudos	1963-1971	Reddish brown		Battle of Rancagua, by Pedro Subercaseaux.	^[17]
10 escudos	1962-1970	Garnet	178 × 83 mm	Effigy ofJosé Manuel Balmaceda.	^[18]
	1962-1970	Garnet	178 × 83 mm	Hug of Maipú, by Pedro Subercaseaux.	^[18]
	1970-1972	Brown	145 × 70 mm	Effigy of José Manuel Balmaceda.	^[19]
	1970-1972	Brown		Hug of Maipú, by Pedro Subercaseaux.	^[19]
	1972-1974	Sepia		Effigy of José Manuel Balmaceda.	^[20]
	1972-1974	Sepia		Hug of Maipú, by Pedro Subercaseaux.	^[20]
50 escudos	1962-1974	Green	178 × 83 mm	Effigy ofArturo Alessandri Palma.	^[18]
50 escudos	1962-1974	Green		Banco Central de Chile building.	^[18]
100 escudos	1967-1974	Blue		Effigy ofManuel Rengifo.	^[21]
100 escudos	1967-1974	Blue		Liberating Expedition of Peru, byThomas Somerscales.	^[21]
500 escudos	1971-1975	Carmine rose	145 × 70 mm	Effigy of aminer, on the occasion of the nationalization of copper in 1971.	^[22]^[23]
500 escudos	1971-1975	Carmine rose		Chuquicamata mine.	^[22]^[23]
1000 escudos	1973-1975	Purplish blue		Effigy ofJosé Miguel Carrera.	^[24]
1000 escudos		Purplish blue		House of theCarrera family.	^[24]
5000 escudos		Green		Effigy of José Miguel Carrera.	^[25]
5000 escudos		Green		House of the Carrera family.	^[25]
10000 escudos	1974-1975	Salmon red		Effigy ofBernardo O'Higgins.	^[26]
10000 escudos	1974-1975	Salmon red		Battle of Rancagua, by Pedro Subercaseaux.	^[26]