1 Peso

Banco Nacional was one of several private institutions authorized to issue currency in Colombia during the fragmented banking period of the late nineteenth century — a period when note-issuing rights were commercially licensed rather than state-controlled. The American Bank Note Company, which printed this note, held an enormous share of Latin American banknote contracts during this era, and the quality of engraving from their New York facilities consistently outpaced what regional printers could offer.

The PS prefix in the Pick reference indicates this is catalogued under Specialized issues — Colombian provincial and private bank notes rather than the central government series. Survivorship from this specific Banco Nacional issue is uneven; many 1880s Colombian private bank notes were redeemed and pulped following the monetary consolidation that eventually led to the Banco de la República's establishment decades later.