1 Peso

Banco del Progreso was one of the numerous private Colombian banks that issued their own currency under the banking legislation of the 1870s and 1880s, before the state moved to centralize monetary control. By 1899, Colombia was edging toward the catastrophic Thousand Days War — the civil conflict that began that year and effectively ended the private banking era, with most of these institutions collapsing or being absorbed in the chaotic years that followed.

The S-prefix in the Pick reference places this firmly in the specials, meaning surviving specimens are typically encountered without full circulation history. Positively attributed examples with intact dates and signatures are uncommon.