Wow.
The world’s largest earthquake in fact was recorded in the same area as February 2010's quake on May 22, 1960. That tremblor was a monstrous 9.5 magnitude quake that claimed 1,655 lives and sent a devastating tsunami as far away as Hawaii, Japan and the Philippines.
Starting on the 21st of May, 1960, southern Chile was struck by a number of quakes that caused damage across a large area.Four foreshocks of magnitude 7.0 or greater were recorded including a 7.9 magnitude temblor near Concepcion.
These culminated with the magnitude 9.5 temblor on the 22nd and an eruption of the Cordon Calle volcano on the 24th.
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According to historical research there were two larger earthquakes but both occurred before the invention of the seismograph.
Both in northern South America:
NOAA 1812 03 26 2107 10.00 -67.00 25 9.6 NOAA XC. .......
NOAA 1827 11 16 23 1.90 -75.60 10 9.7 NOAA EC. .......