Our offices will be closed Thursday and Friday for the Thanksgiving Holiday

​​
Featured Vid​eos
See More​​​​
​​
​​ ​​​
Social Media

Blog Feed

Welcome to The Paper Money of Colombia Portrayed by The Eldorado Collection

By Stack's Bowers Galleries

Author: Stack's Bowers Galleries / Wednesday, August 01, 2018 / Categories: Paper Money of the Week

The second portion of the Eldorado Collection of Colombian Paper Money, offered in the Stack’s Bowers Galleries auction at the 2018 ANA Worlds Fair of Money, continues with exceptional examples never before cataloged in an American sale or anywhere else. Combined with the initial January 2018 Part I auction, these catalogs portray the broadest view of the subject ever published in English or Spanish. Commencing in 1819 and continuing to the present day are countless note types and varieties, from the majority of known series and issuers. The reception for the first auction sale was exceptional. This is often the case when great rarities are acquired for decades and presented in this fashion, reflecting the passion collectors have for these items.

 

Our Part II Eldorado Paper Money sale differs greatly from the Part I catalog and contains many note types and series not featured in the first sale, or there as Proofs only. However, like the first auction, there are several earlier notes, rare private Bancos, and Proofs that were originally discovered in the American Banknote Company archives and sold by Christie’s. In addition, this sale contains the finest offering of modern 1923-1980 República de Colombia notes ever. Decades ago, many of these could be picked out of original packs of new notes. That is not the case now. There are multiple types from the 1930s to 1970s, that are in exceptional grade and perhaps the finest known. The current published catalog values for these were printed years ago and have never been changed. However, collecting enthusiasm for these modern notes and all Colombian numismatics has increased greatly in the past several years. Session J is a significant Internet Only offering, that includes many important condition rarities, finest known, and eclectic types that are cataloged and studied carefully for the first time.

 

Earlier República notes include a strong offering of (Law of) 1923 notes which were created with the help of American economist Edwin Kemmerer. These gold standard (“Peso Oro”) notes are rare as they were either paid in gold or redeemed for later issues. This historic series evolved into many other series printed by the American Bank Note Company, Thomas de la Rue, and eventually in 1959, the state banknote printing company. The amount of paper required due to inflation, made it too costly to have world security printers work on a contract basis. Many of these earlier dated types are surprisingly scarce or rare in high grades. Because of the immense amount of notes being printed compared to the 1950s and before, the first replacement notes appeared with a special “r” designation and serial number prefixes. Few were saved, likely because at the time most collectors did not know their significance. Again, the selection of Colombian replacement notes certified by PMG is the most comprehensive in history and is likely to further their detailed study and census enumeration.

 

Significant in this catalog is the most exhaustive study and offering of Departmental and Gobierno notes resulting from the economic and political instability that culminated in the “1000 Days War” from 1899 to 1902. The “1000 Days War” created these and other locally printed, regional, and emergency issue paper notes, much of which was crudely produced under difficult conditions. High grade notes are the exception for these emergency notes due to the tropical climate and rag paper used for them. Many notes are finest for their types or the first seen in an American sale. Their historical importance is unquestioned and they represent a genre of Colombian paper money that is very charming. There are other local, railroad, and private issues in this sale that are also extremely rare. Items related to engraving and financial history complete the auction catalog entries.

 

The study of Colombian paper money has been amplified by the Eldorado Collection offerings and the opportunities presented. From the second known 1895 1000 Pesos P-241s Specimen note to a collection of modern issue Peso notes, all were curated with devoted attention for decades. Often they represent the only known example, the finest grades of their types, or a nuance worthy of further of study. Stack’s Bowers Galleries has been privileged to present this foundational collection in its entirety.