1 Peso

Colombia's Ministerio de Hacienda y Tesoro issued these notes domestically during a period when the country was still recovering from the Thousand Days War (1899–1902), one of the most destructive civil conflicts in Colombian history. The wartime government had printed paper money so aggressively that hyperinflation rendered it nearly worthless; by 1908, fiscal reconstruction was still very much incomplete, and treasury notes of this type functioned as a stopgap in lieu of a stable banking system.

The perfin security feature — a pattern of small punched holes applied mechanically — was used to authenticate or cancel notes passing through official government channels, a practice more commonly associated with postage stamps than banknotes.