5 Pesos Overprint

Colombia's Banco de la República was established in July 1923, and the earliest notes it issued were not purpose-designed pieces but overprints on existing stock — in this case, plates already held by the American Bank Note Company that had been prepared for predecessor institutions. The overprint solution got new currency into circulation within weeks of the bank's founding, a practical necessity given the monetary chaos that had prompted the Kemmerer Mission's reforms in the first place.

Pick 352 is among the earliest issues attributable to the new central bank. Survivors with clean overprint strikes and no bleed-through are genuinely uncommon.