Casinos supporting Chilean Peso Currency

The Chilean peso has an interesting history in that it was first introduced in the early 1800s, but there is a gap in its usage from 1960 to 1975.

Originally, the Chilean peso was based on the Spanish currency system with 1 peso equalling 8 Spanish colonial reales. The 8 reales to one peso exchange held fairly stable for a while, and was so stable that the escudo was also introduced a few years later to be worth 2 pesos.

Coins that were minted out of gold and silver were the standard physical coinage for a long time, but in 1851 the introduction of bank notes made it a lot easier to carry money and pay for things. However, as time went on and the money continued to drop in value, adding higher and higher notes became impractical. The last new peso denomination that was added in 1958 was the 50,000 peso note. Two years later the peso was abandoned for the escudo and remained out of circulation for 15 years before returning much stronger.

The various denominations of peso bank notes actually vary in length by 7 mm per step, growing increasingly longer as the face value goes up.