20 pesos 1939

Common. While this is a 1939-dated note from the first year of the Banco Central de Chile's 20 Pesos issue, the denomination and period fall within the regular circulation issues with substantial print runs. Current eBay market valuations (2016 catalog data: VF grade valued at $5, UNC at $15) indicate modest collector value consistent with common notes. The VF grade in this case does not command premium pricing, and the note remains readily available to collectors without significant difficulty.

Issued in 1939 by the Banco Central de Chile during a period of institutional modernization, this note commemorates Pedro de Valdivia, the Spanish conquistador and founder of Santiago de Chile in 1541, reflecting the nation's historical identity. The park monument depicted on the reverse likely represents one of Santiago's significant civic spaces, symbolizing Chile's connection to its colonial heritage and Republican development during the interwar period.

The obverse features a centered oval-framed portrait of Pedro de Valdivia, depicted as a bearded conquistador in Renaissance period costume with a prominent ruffled collar, rendered in fine detail typical of historical commemorative currency. The portrait is surrounded by decorative scrollwork in all four corners with the denomination '20' prominently displayed. The reverse showcases a landscaped park scene with a central monument or statue on a pedestal, flanked by mature trees and architectural ruins or fortifications visible in the background, enclosed within an ornate geometric border. Both sides employ the characteristic purple-mauve color palette with white and gray tones, creating a harmonious and dignified appearance befitting a central bank note from this period.

Front side: '20' (denomination in all four corners); 'BANCO CENTRAL DE CHILE' (Central Bank of Chile); 'VEINTE PESOS' (Twenty Pesos); 'CONVERTIBLES ENDRO CONFORM A LA LEY' (Convertible according to law); '22 - XI - 1939' (issue date: November 22, 1939); 'TALLERES DE ESPECIES VALORADAS - SANTIAGO CHILE' (Valued Species Workshops - Santiago, Chile); 'PRESIDENTE' (President); 'GERENTE GENERAL' (General Manager); Serial numbers: '002300' (in both red and blue inks); 'II' (Roman numeral, likely signature or series designation). Back side: '20' (denomination in all four corners); 'BANCO CENTRAL DE CHILE' (Central Bank of Chile); 'VEINTE PESOS' (Twenty Pesos); 'BANCO CENTRAL DE CHILE - SANTIAGO DE CHILE' (Central Bank of Chile - Santiago, Chile).

Steel engraving (gravure/intaglio printing), executed by Talleres de Especies Valoradas (Valued Species Workshops) in Santiago, Chile, as credited on the note. The fine line work, intricate background patterns, detailed portraiture, and complex geometric ornaments visible throughout both sides are characteristic of premium intaglio security printing. The multicolor printing effect (purple/mauve base with gray tones and selective color registration for serial numbers in red and blue inks) indicates a multi-pass printing process typical of high-security banknote production.

This example represents Pick P-93a, the first variety of the 1939-1947 20 Pesos issue. Notable variety distinguishing features include: the portrait of Pedro de Valdivia without a name label beneath it (as confirmed in visual analysis), signature varieties (visible signature lines for 'PRESIDENTE' and 'GERENTE GENERAL' are present), and the date of November 22, 1939. The serial number '002300' with dual-color inking (red and blue) and Roman numeral 'II' designation are consistent with early series production. Known variations for this Pick number include different signature combinations; this specific example represents the base variety without notable overprints or exceptional printing characteristics.