10 Pesos

Banco del Estado was one of several Colombian departmental banks authorized under the 1880 banking law, operating with note-issuing privileges tied to regional deposit guarantees rather than a central reserve. By 1900 the national government was deep into the Thousand Days War — a civil conflict that ran from 1899 to 1902 — and provincial bank paper circulated under severe stress, with public confidence collapsing and redemption in specie largely suspended across the country.

Printed domestically, which was unusual for Colombian private bank issues of this period, most of which relied on foreign printers. That choice likely reflects wartime disruption to normal procurement rather than any deliberate policy shift.