2 Pesos

Banco Dugand was a short-lived Colombian private bank headquartered in Barranquilla, operating during a period when regional commercial banks still retained the right to issue their own circulating notes. The American Bank Note Company supplied a considerable share of Latin American private bank paper during this period, and Dugand's notes follow that production pattern — competent intaglio work from a printer that was essentially running a regional monopoly on prestige banknote production west of the Atlantic.

The bank collapsed in the early 1920s, which explains the narrow issuance window and the relative scarcity of surviving examples across the Dugand series.