1 Peso Oro

Colombia's Banco de la República was only four years old when this note was issued, having been established in 1923 largely under pressure from the Kemmerer Mission — the U.S. monetary advisory group that restructured central banking across much of Latin America during the 1920s. The peso oro itself was a deliberate construct, pegged to gold at the rate set by the 1923 reforms to break from decades of currency instability following the Thousand Days War.

The American Bank Note Company held the printing contract for much of the early República series. ABNC's New York plant produced notes for dozens of Latin American central banks during this period, which occasionally causes confusion when plates from one country's designs were later adapted or reused elsewhere.