Chilean Peso

The peso is the currency of Chile and the current version has been in circulation since 1975. The previous version had been in circulation between 1817-1960.

When Chile gained independence from Spain and established their own government in 1810, the country went through long periods of high inflation along with periods of monetary stability. Chile’s history of minting peso coins began in 1817, as the country was gaining independence.

The most popular and highest minted gold coins in Chile were issued between 1926-1980 in denominations of 20, 50 and 100 Peso gold coins. These are the coins being offered here at CelticGold.  

The 100 Peso gold coin is Chile’s most popular and signature gold coin with the highest mintage. All of the Chilean Peso gold coins are of high quality and were produced by the Santiago de Chile Mint.

The artistic designs and rich history of Chile make these coins popular with both investors and collectors.

History of Chilean Gold Coins

Chile was originally under the rule of the Incas in the North and the Araucanos in the South. However, in 1541, Santiago was established by Spaniard Pedro de Valdivia, and taken from the Incas. One of Spain’s objectives in taking control of Chile was to mine for gold.

Chile won its complete independence from Spain in 1818 under Bernardo O’Higgins and Jose de San Martin from Argentina. When Chile gained independence, the first version of the peso had a value of 8 Spanish colonial reales. From 1817 many different types of peso and gold peso coins were issued.

The 1 Peso Chilean gold coin was not introduced until 1860 and was issued to a different standard than that of France, with one peso equalling 1.37 grams of gold (5 francs equalled 1.45 grams of gold).

In 1885, Chile adopted the gold standard, and the peso was pegged to the British pound at a rate of 13 ⅓ pesos to one pound. Chile minted a number of different gold coins from 1817, which included:

  • 10 Peso gold coins 1851-1892

  • 10 Peso gold coins 1895-1901

  • 5 Peso gold coins 1851-1873

  • 5 Peso gold coins 1895-1900

  • 1 Peso gold coins 1860-1864

The description for the gold peso coins issued between 1926-1980 are listed below.

100 Peso Gold Coin

The 100 Peso gold coin is the most popular Chilean gold bullion coin. It was minted from 1926-1980. The coins were produced by the Chilean Santiago Mint and the 1926 edition was the highest mintage with 678,000 coins.

The motif side of the coin features a laureate female head, wearing a Chilean dress. The inscription around the top outer edge reads “REPUBLICA DE CHILE”. The date of issue is embossed below the motif. The coin has a ribbed edge bar that is slightly raised.

The value side depicts a star in the center of the coat of arms. On either side of the shield are two animals standing upright wearing a crown. The top of the shield consists of plum feathers and below the shield is a laurel wreath. The inscriptions on the coin read “CIEN PESOS”, “100 Ps” and DIEZ CONDORES” To the right of the shield is the letter “S”, which stands for the Santiago Mint, where all of the 100 Peso gold coins were produced.

From 1925, coins and banknotes were denominated in condores, worth 10 pesos. This is why the nominal value is expressed in pesos and condores.

The design of the 1926 version, which is the first year of mintage, is slightly different than the later editions. However, the gold content and product dimensions are the same for all years. As mentioned, the 1926 issue had the highest mintage followed by the 1947 edition. Most years had a mintage of over one hundred thousand coins.  

Product Specifications

Weight: 0.5886 gold ounces

Diameter: 31.1 mm

Purity: 900/1000

Nominal Value: 100 Pesos

50 Peso Gold Coin

The 50 Peso gold coin was minted between 1926 and 1973 and was produced in much smaller quantities than the 100 Peso gold coin. The motif side of the coin also depicts a left side profile of a laureate female wearing a Chilean dress. The inscriptions read “REPUBLICA DE CHILE” and the year of issue, which is below the motif.

The value side of the coin shows the coat of arms of Chile. Included in the design is a star in the center of the shield with two animals on either side standing upright with a crown on their head. Above the coat of arms are plum feathers and below is a laurel wreath.

The inscription around the top outer edge reads “CINCUENTA PESOS”. On the bottom outer edge are the words “CINCO CONDORES” To the right of the coat of arms is the letter “S”, which stands for the Santiago Mint. To the left of the coat of arms is the inscription “50 Ps”.

The largest mintage for the 50 pesos gold coin was the 1926 year of issue.

Product Specifications

Weight: 0.2943 gold ounces

Diameter: 24 mm

Purity: 900/1000

Nominal Value: 50 Pesos

20 Peso Gold Coins

Chilean 20 Peso gold coins were issued between 1926 and 1980. Most of the editions had an annual mintage of below 100,000 coins. The coin design is similar to that of the 100 Peso and 50 Peso gold coin. The motif side features the left profile view of a laureate female head wearing a Chilean dress. The inscription around the top outer edge reads “REPUBLICA DE CHILE”. Below the motif is the year of issue. The edge bar is rippled and slightly raised, which is common for coins of this era.

The value side depicts the coat of arms of Chile. In the center, is a five pointed star. To the right and left are two animals standing upright with a crown on their head. The top of the coat of arms feature plum feathers, and a laurel wreath is embossed at the bottom. The engravings around the outer edge read “VEINTE PESOS”, “DOS CONDORES”, “20 Ps”, and the letter “S”, which stands for the Santiago Mint.

Product Details

Weight: 0.1177 gold ounces

Diameter: 18.5 mm

Purity: 900/1000

Nominal Value: 20 Pesos

Advantages

  • Chilean Peso gold coins celebrate the history of Chile

  • The have artistic and detailed designs

  • Many of the editions have a limited mintage.

  • VAT free

Interesting Facts about Chile

  1. Chile is the world’s longest country. It measures 4,620 kilometers, but is only 150 kilometers (93 miles) wide west to east.

  2. The Andes mountain range spans the entire country covering about 80% of its land. Less than 5% of Chile’s land is cultivated.

  3. There are about 90 active volcanoes in Chile. The most active are Villarrica, Cerro Arul, and Cerro Hudson. Ojos del Salado, on the Chile-Argentina border is the highest active volcano in the world and stands at 6,893 meters.  

  4. The Atacama desert in Chile, covers 1,000 kilometers and is the driest place in the world with an average of 15 mm of rainfall per year.

  5. In the Chilean city of Algarrobo, is the world’s biggest swimming pool. It is located at San Alfonso del Mar resort and is over 1,013 mm in length with a maximum depth of a 115 feet.

Buying Tips

The price of Chilean Peso gold coins is made up of the gold price (referred to as the spot price) and the premium. Gold is traded on the stock exchanges of the world and the price fluctuates constantly, mostly due to changes in supply and demand.

Gold buyers should become familiar with the history of gold and the factors that drive the price. Many investors view gold as a long term asset class due to its track record of wealth preservation.

Premium

The premium is the cost and margin of the mint and precious metals dealer. Premiums can vary depending on the dealer you choose, as each dealer has a different cost structure. Always choose a dealer who has a proven track record and a good reputation serving customers.

The premium for Chilean Peso gold coins will vary depending on the edition of the coin and its condition. Chilean Peso gold coins are considered semi-numismatic and therefore some editions may carry a higher premium. The 100 Chilean Peso gold coin is the most popular and will often carry the smallest premium.

The premium can also be impacted by supply and demand. If a particular edition is in high demand the premium will also be higher.  

VAT

In Germany, investment gold coins are exempt from VAT regulated in § 25c UStG. The following criteria make the Chilean Peso gold coin investment gold.

  • The gold coin must have been stamped after 1800.

  • It must be or have been an official means of payment in the country of production.

  • It must have a fine gold content of at least 900/1000.

  • The gold coin may not exceed the open market value by more than 80%

Details

Manufacturer: Santiago de Chile Mint
Country of origin: Chile
Fineness: 900/1000
Alloy: Gold/Copper
Size 1: 100 Chilean Peso gold coin
Size 2: 50 Chilean Peso gold coin
Size 3: 20 Chilean Peso gold coin
Scratch resistance: Good

 

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