100 Chilean pesos (1946-1980) are the gold investment coins of regular coinage produced by the Chilean Mint. At various times, there were several monetary reforms in the country (including reform of introducing escudo instead of peso), but these coins continued to be issued in the old denomination, which attracted many collectors and investors. Nowadays, the minting of gold investment pesos has been suspended due to the fluctuating rate of gold. You can find all 100 Pesos Chilean gold coins in our catalog.
Coin features
- Production: Chile Mint.
- Type: investment.
- Material: gold (0.900).
- Diameter: 31 mm.
- Weight: 20.34 g.
- Edge: ribbed.
- Obverse: on the obverse of the coin there is a portrait of a woman in profile, which symbolizes the young republic of Chile. Above the portrait there is the inscription “REPUBLICA DE CHILE”, at the bottom − the year of issue.
- Reverse: on the reverse of the coin there is a five-pointed star in the center of the shield, which is supported by two crowned animals. At the top of the coin there is the inscription “CIEN PESOS”, on the left − “100 Ps”. “DIEZ CONDORES” is stamped below, and on the right there is a special mark of the Chilean Mint − the letter “S”.
History of Chilean Coins
The first Chilean peso was introduced in 1817, its price was 8 Spanish colonial reales. All 1 Peso Chilean gold coins in our catalog. In 1835, copper coins denominated in centavo were put into circulation, but only in 1851 reales and escudos ceased to be issued, and further mintage of centavo and dekimouse were initiated (costing 10 centavos). Also in 1851, a peso weighing 22.5 grams of pure silver was equated to 5 French francs. However, gold coins were issued in a different standard than in France, since one peso was equal to 1.37 grams of gold (5 francs were equal to 1.45 grams of gold). In 1885, the gold standard was adopted, tying the pesos to the British pound at a ratio of 1 peso: 1 shilling and 6 pence, but in 1926 the peso exchange rate fell to 6 pence.
By 1932, the peso rate continued to fall, so the effect of the gold standard had to be suspended, but this did not affect investment coins. On January 1, 1960, instead of a depreciated peso, an escudo was introduced, which was exchanged at the rate of 1 escudo = 1000 pesos. Gold investment coins of 100 pesos continued to be minted until 1980, without changing the name and denomination. In addition, in 1968, a special issue of gold coins of 100, 200 and 500 pesos was held. The escudo was canceled in 1975 along with monetary reform, and the Chileans again returned to their usual peso.
Also in 1975, coins with denominations of 1, 5, 10 and 50 centavos and 1 peso were put into circulation, and the design of coins 1, 5 and 10 centavos was very similar to coins of 10, 50 and 100 escudos. Since 1983, the centavos were no longer produced, since inflation finally devalued them. Coins of 5 and 10 pesos were put into circulation in 1976, followed by samples of 50 and 100 pesos. In 2000, Chile issued a coin of 500 pesos. All 500 Pesos Chilean gold coins in our catalog.
Currently, coins in denominations of 1, 5, 10, 50, 100 and 500 pesos are in circulation, however, as of 2016, the value of pesos has depreciated so much that most retailers usually put prices in multiples of 10 pesos, ignoring smaller amounts. A 1 peso coin has become a rarity even in the country. As a result, from October 26, 2017, the Chilean Mint stopped issuing coins of 1 and 5 pesos and announced the acceptance of these coins directly at their own factories for exchange for a larger denomination. As of November 1, 2017, Chilean commercial organizations initiated the rounding of amounts to pay in cash: first they rounded amounts ending with 1-5 pesos, then they began to round amounts ending with 6-9 pesos. So far, this rule does not apply to non-cash electronic transactions or checks. These changes affected various charity programs that accept donations in cash.
The cost of coins
Despite the fact that gold coins produced by the Chilean Mint are considered to be investment, they are also highly valued by coin collectors from all over the world. Today Chile gold and silver coins of 1932-1980 are in museums and private collections, so the price for one copy is quite high − from $ 550 to $ 1,300, depending on the place of sale and the level of the auction.
Interesting Facts
- The currency symbol of the Chilean Mint, the letter S with one or two vertical stripes. Such symbols can be seen on coins and banknotes of many countries of the world, first of all the USA. This is often used by fraudsters, denoting the amount of money as a $ symbol, but without specifying it means CLP $ (Chilean peso) or $ USD. The exchange rate today is 600 pesos for 1 $ USD.
- Officially, the peso is divided into 100 centavos, but today there are no centavos-denominated coins or banknotes. Back in 1983, the centavos were canceled due to inflation. In addition, the depreciation removed from circulation banknotes of 5, 10, 50 and 100 pesos, they were replaced with coins, most often with the copper ones.
- During the escudo period, coins of 100 pesos were not issued (with the exception of gold investment coins). Instead, the Mint issued a small number of coins in denominations of 100 escudos, which were made of nickel brass and had a weak circulation in the country.
- In 2008, the Chilean Mint became involved in a curious story by releasing a whole batch of 50 peso coins with an annoying typo on the obverse: to the right of the profile image of the national hero Bernardo O’Higgins, instead of the usual “DE CHILE”, was engraved with “DE CHIIE”. Only after one and a half years this error was discovered, when the coins were already spread throughout the country. As a result, the head of the Mint was fired, and the coins were tried to be withdrawn. However, most of the samples with an error were sold to collectors who immediately became interested in them, so today it is almost impossible to find such coin on sale.
- Literally immediately after the establishment of the military dictatorship in Chile (1973-1990), the images on the obverse of coins of 5 and 10 pesos were changed. All 5 Pesos and 10 Pesos Chilean gold coins in our catalog. On these coins they began to engrave a winged female figure in national Chilean dress, which breaks the massive chain that bound both her hands. Next to the figure, the date of the coup d’etat in Roman numerals and the word “LIBERTAD” (in Spanish “freedom”) were now minted. After the return of the democratic regime, a proposal was to place a portrait of Bernardo O’Higgins on coins.
- Few people pay attention to this, but Chilean peso banknotes are evenly lengthened by seven millimeters as their denomination grows. In addition, usually on the banknotes of the Mint of Chile production place the images of birds, but on the reverse of a banknote of 1000 pesos is depicted a mammal.
- On the reverse of all modern Chilean coins, which are legal currency of the country, there is an image of a laurel wreath as a symbol of the victories of the people of Chile.
- Colloquial Chilean Spanish has informal names for some banknotes and coins. Thus, a 1000 peso banknote is called a “bow”, and a coin of 100 pesos is called a gamba.