5 Pesos

The Banco Nacional de la República de Colombia had a troubled final chapter. The Colombian government dissolved it in 1894 following years of mismanagement and politically motivated lending, but note issuance continued under state control through the late 1890s as the country lurched toward the Thousand Days War — the devastating civil conflict that broke out in 1899, the same year this note was printed.

Printing by the Litografía Nacional in Bogotá rather than a foreign security printer was itself a consequence of fiscal strain. Domestic production cut costs but compromised security features, and counterfeiting of the series was a known problem during the war years.