1 peso oro legal 1919

Common. The eBay market data provided shows sales ranging from $2.30 USD (AU) to $4,195.00 USD (AU), with the VF condition grade priced at $199.95 USD. The presence of multiple listings at varying prices, including many in the sub-$100 range, and the consistent availability of this note across different condition grades indicates a well-distributed issue. Banco Industrial notes from this period, while historically interesting, were produced in sufficient quantities to sustain collector availability. The note is not from a recalled issuer, short-lived operation, or exceptionally limited printing run. Its value is driven more by historical interest and condition rather than rarity.

This note was issued under the May 18, 1918 contract between the Colombian National Government and Banco Industrial, authorized by Law 24 of 1905, which permitted Colombian banks to issue mortgage-backed certificates as circulating currency. The timeline printed on the obverse (1919-1934) reflects the 10-year amortization schedule mandated by the certificate terms, indicating this currency was designed to function alongside traditional coinage while being systematically retired through annual lottery draws. The issuance from Cartagena demonstrates the regional banking operations that characterized Colombia's early republican financial system.

The obverse features an allegorical female figure (representing Liberty or Commerce) in classical style, positioned within an ornate rectangular frame on the left side of the note. She holds a caduceus staff (the winged rod entwined with serpents), a symbol traditionally associated with commerce, trade, and negotiation. The figure is rendered in fine-line engraving typical of high-security currency production. The note is framed by an intricate geometric and floral border design in green, with a repeating pattern characteristic of 19th-century bank note aesthetics. A butterfly or moth ornamental motif appears on the right side. The reverse contains exclusively legal text in four ornamental boxes with baroque-style borders and cross-and-crown decorative elements, presenting the contractual terms governing the mortgage certificate's status as circulating currency, interest terms (4% annually payable November 30), and amortization structure (10-year lottery draws). The entire design employs a classical dual-color scheme of green and black on cream paper stock.

FRONT SIDE: 'EL BANCO INDUSTRIAL' (The Industrial Bank) | 'CARTAGENA-COLOMBIA' | 'SERIE A' (Series A) | 'PAGARÁ AL PORTADOR' (Payable to Bearer) | 'UN PESO ORO LEGAL' (One Legal Gold Peso) | 'Esta Cédula Hipotecaria semejen la fecha de conformidad con la Ley 24 de 1905, y el Contrato celebrado entre el Gobierno Nacional y el Banco Industrial del 18 de Mayo de 1918. Cartagena 1º de Abril de 1919' (This Mortgage Certificate is issued on this date in accordance with Law 24 of 1905 and the Contract concluded between the National Government and the Industrial Bank on May 18, 1918. Cartagena, April 1, 1919) | 'EL PRESIDENTE' (The President) | 'EL GERENTE' (The Manager) | 'EL SECRETARIO' (The Secretary) | 'Nº 21956' (No. 21956) | Years 1919-1934 printed along margins | 'AMERICAN BANK NOTE COMPANY' | 'VENCIDOS DE INTERESES PAGADOS' (Interest Periods Paid). BACK SIDE: 'CONTRATO CELEBRADO ENTRE EL GOBIERNO NACIONAL Y EL BANCO INDUSTRIAL, EL 18 DE MAYO DE 1918' (Contract concluded between the National Government and the Industrial Bank on May 18, 1918) | 'CLÁUSULA 3A — EL GOBIERNO CONFIERE Y RECONOCE EN FAVOR DEL BANCO INDUSTRIAL, TODAS LAS CONCESIONES Y TODOS LOS DERECHOS QUE LA CITADA LEY 24 DE 1905, OTORGA A LOS BANCOS HIPOTECARIOS Y A LAS SECCIONES HIPOTECARIAS DE LOS BANCOS' (Clause 3A — The Government confers and recognizes in favor of the Industrial Bank all concessions and all rights that Law 24 of 1905 grants to mortgage banks and mortgage sections of banks) | '2A — EN CAMBIO EL GOBIERNO HARÁ A LOS BANCOS O SECCIONES HIPOTECARIAS, EN LOS RESPECTIVOS CONTRATOS, LAS SIGUIENTES CONCESIONES (A) — LA DE EMITIR CÉDULAS O BILLETES HIPOTECARIOS CONTRA SU CAJA, PAGADEROS AL PORTADOR; PERO SI MONTO NO PODRA EXCEDER DEL IMPORTE DE LOS CRÉDITOS CONSTITUIDOS POR HIPOTECA ESPECIAL A FAVOR DEL BANCO' (2A — In exchange the Government will grant to banks or mortgage sections the following concessions (A) — that of issuing mortgage certificates or bills against its cash, payable to bearer; but the amount cannot exceed the value of credits constituted by special mortgage in favor of the Bank) | 'Gana interés de cuatro por ciento (4%) anual— Pagadero el día 30 de Noviembre de cada año' (Earns interest of four percent (4%) per annum — Payable on November 30 of each year) | 'Esta Cédula es Amortizable por Sorteos Anuales en el Curso de Diez (10) Años' (This Certificate is Amortizable by Annual Draws over the Course of Ten (10) Years) | 'LEY 24 DE 1905 (24 DE ABRIL), ART. 1º' (Law 24 of 1905, April 24, Article 1) | 'AMERICAN BANK NOTE COMPANY LATINO'

This note was produced using intaglio engraving (also called copperplate engraving), the premium security printing technique for currency of this era. American Bank Note Company, the world's foremost private currency printer at the time, executed the work, as explicitly credited on both sides of the note. The fine-line detail visible throughout—particularly in the portrait, border patterns, and extensive legal text on the reverse—is characteristic of intaglio printing's capability to render intricate designs resistant to counterfeiting. The precision of the line work and the depth of impression observable in the paper are hallmarks of this technique.

This specific example is identified as Series A (SERIE A) with serial number 21956. The note is dated April 1, 1919 (Cartagena 1º de Abril de 1919), matching the Pick S551 catalog designation for the 1919 issue. Known varieties for Banco Industrial 1 peso oro legal notes of this type may include different series designations (Series A, B, C, etc.) and varying serial number ranges, though detailed variety documentation for this Colombian regional bank issue is limited in standard catalogs. The specific contract reference (May 18, 1918) and legal framework citations remain consistent across the issue, indicating these are not significant variety markers within this denomination.