1 Peso

Banco Dugand was a short-lived Colombian private bank founded by the Dugand family, prominent in Barranquilla's commercial life during the early twentieth century. Colombian free banking had largely been curtailed by the time this note was printed, and Dugand operated under the increasingly restrictive monetary framework that preceded the 1923 Kemmerer Mission reforms — which ended private note issue in Colombia for good.

The American Bank Note Company contract placed it in distinguished company; ABNC handled most of the region's quality private bank paper at the time. Whether significant quantities ever reached general circulation before the bank's closure is unclear.