The silver 2 Pesos was minted only in the year 1927. The only other coin produced with the same denomination was a gold 2 pesos coin produced from 1856 to 1875. With its unique denomination, large size (33mm), and silver content make it a favorite among collectors.
The obverse, designed by O. Roty, features an Andean Condor (the national bird of Chile) perched on a rock. On the outer periphery is the phrase “REPUBLICA DE CHILE”. To the left of the rock is the silver fineness “0,5” and to the right of the rock is the mintmark “SO” for the Santiago Mint.
The reverse design features the denomination and year of issue encircled within a wreath. At the bottom of the wreath is a hammer & sickle. Some perceive the hammer & sickle as Marxist or Communist symbol but this is ludicrous as Chile was using the symbols on their coins decades before either socialist movement existed. More than likely the hammer & sickle were symbolic representations of Chile’s economy of mining & agriculture.
According to Krause Publications 459,510 pieces were melted down in 1932 reducing the available mintage to 600,490 pieces. Luckily coins that survived the melting were saved in large quantities and despite its popularity coin prices remain affordable.