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1 Peso
| Issuer | Banco de Medellín |
|---|---|
| Year | 1899 |
| Type | Log in to see details |
| Value | 1 Peso |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | UN PESO Núm. 113800 Serie 1ª Medellín 30 Octubre 1899 EL BANCO REPUBLICANO pagará al portador a su vista la cantidad de UN PESO en monedas FUNDADO POR M.A. SANTA MARÍA & LALINDE FUNDADO POR LISANDRO M. URIBE FUNDADO POR MARIANO URIBE E HIJOS FUNDADO POR EDUARDO Y JULIÁN VASQUEZ J. |
| Reverse description | The reverse carries a plain rectangular text panel with a fine guilloche border. The central text states that the note is the responsibility of the Banco de Medellín, assimilated to a libranza and forming part of the amount agreed with the National Government under the contract of 7 September 1899. A small numeral "1" appears in the lower corners, and an ink cancellation stamp is visible to the right. |
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| Comments |
The Banco de Medellín was one of several private Colombian banks operating under the free banking framework established by the 1880 banking law, which permitted chartered institutions to issue their own notes backed by specie reserves. By 1899, that system was already under severe strain — the Thousand Days War, which began that same year, would devastate private bank reserves and ultimately hand the Colombian government the justification it needed to centralize currency issuance and suppress private note-issuing rights entirely.
Most Banco de Medellín notes were redeemed or destroyed in the monetary consolidation that followed. Survivors from the 1899 issues are correspondingly scarce.