Colombia

# **Republic of Colombia**

## **Full Financial History Report**

---

### **Basic Data:**

- **ISO Country Code:** CO
- **Official Language:** Spanish
- **ISO Language Code (main):** es
- **Current Official Currency:** Colombian Peso
- **ISO Currency Code (current):** COP

---

## **1. Monetary History of Colombia**

Colombia's monetary history reflects its economic and social evolution from the colonial period to the present day. Influenced by indigenous, European, and African elements, the Colombian monetary system has undergone numerous transformations marked by changes in currency units, high inflation, and multiple economic reforms.

---

## **2. Currencies Circulated in Colombia (since the beginning of monetary production)**

Below is a list of all currencies that have circulated in Colombia:

---

### **2.1. Real (Spanish and Colonial Real)**

- **ISO Code:** —
- **Singular Name:** Real
- **Plural Name:** Reales
- **Monetary Subdivision:** 1 Real = 8 small reals / 1 Real = 100 centavos *(in some periods)*
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** c. 1537 *(with the arrival of the Spanish)*
- **End Date of Production:** 1819
- **Start Date of Circulation:** c. 1537
- **End Date of Circulation:** 1819
- **Mint:** Casa de Moneda de Santa Fe de Bogotá *(founded in 1742)*
- **Issuing Bank:** Not applicable *(used during early colonial times)*
- **Coin Denominations:** ½ real, 1 real, 2 reales, 4 reales, 8 reales
- **Banknote Denominations:** —
- **Historical Context:** Used during the Viceroyalty of New Granada and in the early years after independence.
- **Designs / Symbols:** Included heraldic figures, crosses, lions, and colonial shields.
- **Current Status:** Out of circulation
- **Issuing Authority:** Spanish Crown
- **Relevant Legislation:** Used under colonial rule
- **Curiosities:** The first coins were minted with gold from regions such as Antioquia and Popayán.

---

### **2.2. Colombian Peso (COP)** – **First Issue**

- **ISO Code:** COP
- **Singular Name:** Colombian Peso
- **Plural Name:** Colombian Pesos
- **Monetary Subdivision:** 1 Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1820
- **End Date of Production:** 1860
- **Start Date of Circulation:** 1820
- **End Date of Circulation:** 1860
- **Mint:** Casa de la Moneda de Colombia
- **Issuing Bank:** Banco de la Nueva Granada
- **Coin Denominations:** ¼, ½, 1, 2, 4, 8, 10 reales; 1 peso
- **Banknote Denominations:** 1, 2, 5, 10, 20, 50, 100 pesos
- **Historical Context:** First stable national currency after independence.
- **Designs / Symbols:** Featured national heroes such as Simón Bolívar, Francisco de Paula Santander, and patriotic symbols.
- **Print Runs / Commemorative Issues:** Special notes for patriotic events and anniversaries.
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco de la Nueva Granada
- **Relevant Legislation:** Law Establishing the Banco de la Nueva Granada *(1823)*

---

### **2.3. Colombian Peso (COP)** – **Second Issue (Current)**

- **ISO Code:** COP
- **Singular Name:** Colombian Peso
- **Plural Name:** Colombian Pesos
- **Monetary Subdivision:** 1 Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1860
- **End Date of Production:** Ongoing
- **Start Date of Circulation:** 1860
- **End Date of Circulation:** In circulation
- **Mint:** Casa de la Moneda de Colombia
- **Issuing Bank:** Banco de la República de Colombia
- **Coin Denominations:** $1, $2, $5, $10, $20, $50, $100, $200, $500, $1000
- **Banknote Denominations:** $1000, $2000, $5000, $10,000, $20,000, $50,000, $100,000
- **Historical Context:** Introduced to modernize the monetary system and control inflation from previous periods.
- **Designs / Symbols:** Series featuring historical figures like Antonio Nariño, Policarpa Salavarrieta, José María Córdova, and native animals.
- **Print Runs / Commemorative Issues:** Special editions dedicated to wildlife, culture, and historical events.
- **Curiosities:** Current banknotes use advanced anti-counterfeit features.
- **Current Status:** Active
- **Issuing Authority:** Banco de la República de Colombia
- **Relevant Legislation:** Central Bank Act *(1923)*
- **Current Signatories:** President of the Central Bank, Minister of Finance
- **People Honored on Notes:** Antonio Nariño, Policarpa Salavarrieta, José María Córdova, among others

---

### **2.4. Gold Peso (XCO)** – **Single Issue**

- **ISO Code:** XCO *(not officially used)*
- **Singular Name:** Gold Peso
- **Plural Name:** Gold Pesos
- **Monetary Subdivision:** 1 Gold Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1915
- **End Date of Production:** 1931
- **Start Date of Circulation:** 1915
- **End Date of Circulation:** 1931
- **Mint:** Casa de la Moneda de Colombia
- **Issuing Bank:** Banco de la República de Colombia
- **Coin Denominations:** $2, $5, $10, $20, $50, $100
- **Banknote Denominations:** $5, $10, $20, $50, $100
- **Historical Context:** A gold-backed currency mainly used in international transactions.
- **Designs / Symbols:** Featured busts of national heroes and patriotic motifs.
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco de la República de Colombia
- **Relevant Legislation:** Gold Standard Act *(1915)*
- **Featured Figures:** Simón Bolívar, Francisco de Paula Santander

---

### **2.5. Silver Peso (XCA)** – **Single Issue**

- **ISO Code:** XCA *(not officially used)*
- **Singular Name:** Silver Peso
- **Plural Name:** Silver Pesos
- **Monetary Subdivision:** 1 Silver Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1915
- **End Date of Production:** 1931
- **Start Date of Circulation:** 1915
- **End Date of Circulation:** 1931
- **Mint:** Casa de la Moneda de Colombia
- **Issuing Bank:** Banco de la República de Colombia
- **Coin Denominations:** $1, $2, $5, $10
- **Banknote Denominations:** $1, $2, $5
- **Historical Context:** A silver-backed currency used in local and regional transactions.
- **Designs / Symbols:** Cultural elements and figures from republican history.
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco de la República de Colombia
- **Relevant Legislation:** Gold and Silver Standard Act *(1915)*
- **Featured Figures:** National leaders and regional figures

---

### **2.6. Colombian Peso (COP)** – **Return and Current Use**

- **ISO Code:** COP
- **Singular Name:** Colombian Peso
- **Plural Name:** Colombian Pesos
- **Monetary Subdivision:** 1 Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1931
- **End Date of Production:** Ongoing
- **Start Date of Circulation:** 1931
- **End Date of Circulation:** In circulation
- **Mint:** Casa de la Moneda de Colombia
- **Issuing Bank:** Banco de la República de Colombia
- **Coin Denominations:** $50, $100, $200, $500, $1000
- **Banknote Denominations:** $2000, $5000, $10,000, $20,000, $50,000, $100,000
- **Historical Context:** Replaced the gold and silver peso and became the stable monetary unit.
- **Designs / Symbols:** "Culture and Nature" series, with representations of national fauna and history.
- **Print Runs / Commemorative Issues:** Special editions commemorating historical and natural events.
- **Curiosities:** The $100,000 note is currently the highest denomination in circulation.
- **Current Status:** Active
- **Issuing Authority:** Banco de la República de Colombia
- **Relevant Legislation:** Central Bank Act *(1923)*
- **Current Signatories:** President of the Central Bank, Minister of Finance
- **People Honored on Notes:** Antonio Nariño, Policarpa Salavarrieta, José María Córdova, among others

---

## **3. Mints / Production Facilities**

- **Casa de la Moneda de Colombia** *(founded in 1742)*
- **Central Bank Banknote Printing Facility** *(responsible for printing banknotes)*

---

## **4. Chronological Summary of Currency Changes**

| Year | Currency Change | Equivalence |
|------|------------------|-------------|
| 1820 | Real → Colombian Peso | 1:1 |
| 1915 | Colombian Peso → Gold and Silver Peso | 1:1 |
| 1931 | Gold/Silver Peso → Colombian Peso | 1:1 |

---

## **5. Additional Curiosities**

- The Casa de la Moneda de Colombia is one of the oldest mints in the Americas.
- Some banknote series include accessibility features for visually impaired users.
- The Banco de la República operates a numismatic museum open to the public.
- Recent banknote issues incorporate advanced security technology and eco-friendly design elements.

---

## **6. Historical Issuing Authorities**

- Banco de la Nueva Granada
- Banco Nacional de Colombia
- Banco de la República de Colombia

---

## **7. Key Monetary Legislation**

- Law Establishing the Banco de la Nueva Granada *(1823)*
- Gold Standard Act *(1915)*
- Central Bank Act *(1923)*

---

## **8. Prominent Figures Featured on Banknotes**

- Simón Bolívar
- Francisco de Paula Santander
- Antonio Nariño
- Policarpa Salavarrieta
- José María Córdova
- Jorge Eliécer Gaitán *(historical commemorative issue)*
- Rafael Reyes *(limited edition)*

Fonte:

Autor do blog: Nilton Romani