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Total commemorative banknotes issued is under 1,500 pieces. If you have achieved any figures close to this, then you are doing extremely well, as many of the older commemorative notes are hard to find even in poor conditions.

Opinion: Many collectors of commemorative banknotes would have come across with those Somaliland sets overprinted with gold and silver texts with the following wordings - 5th Anniversary of Independence 18 May 1996 [Sanad Gurade 5ee Gobanimadda 18 May 1996]. I believe these are "home made" (or fake) and not authorised by the central bank. My argument is simple. No central bank would have issued an overprint commemorative banknote that the texts are so large that it would cover the two signatures on the note as well as part of the serial numbers. Even if these are genuine notes, then these could be issued as souvenir sheets and not as legal tender. As I said before, this is my opinion. If you have paid top dollars for these, please think about my argument. There is always a sucker around the corner, including me of course!

All comments are most welcome but it has to be subjects related to banknotes or banknotes collection. If not, it will not be approved. Thanks

16 January 2015

Chile - 500 Escudo 1971 Commemorative

Five Hundred Escudos
Series B2, s. Alfonso Inostroza / Jaime Barrios Meza
Dated 1971, P145
 Series B20, Eduardo Cano Quijada / Carlos Melina Orrega
Dated 1971, P145
 Series B28, s. Alfonso Inostroza / Jaime Barrios Meza
Dated 1971, P145
This is an interesting 500 Escudo commemorative note issued in 1971. The note is printed with the following text "1971 ano de la nacionalizacion del cobre, salitre y hierro" (1971 year of the nationalization of copper, nitrate and iron). The note was issued to commemorate the nationalisation of the country's natural resources, copper, nitrate and iron. The nationalisation of natural resources was started by the government under the country's President of Carlos Ibáñez del Campo and culminated during the President Salvador Allende, who then completed the nationalization process. This process only affect foreign-owned section of the Chilean copper mining industry and involved mainly three large mines only. Local Chilean-owned smaller copper mines were not affected. This nationalisation act let to international economy boycott against the country which later caused the down fall of the Allende socialist government in 1973, following a coup d'etat carried out by army strong man Angusto Pinochet. President Allende did not survived the coup d'etat, and until now, it was not sure if he was assassinated by the coup plotters or he committed suicide. As you can see, there are two varieties for this issue. Both the designs are the same except the signatures. Both are also printed by Casa de Moneda de Chile. Here I have posted two notes with difference signature.

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