20 centavos 1887

Common. The catalog values and eBay market data strongly support this assessment. A specimen in Fair condition realized only $66 at auction in 2015 after 37 bids, and the 2016 catalog value for F condition was $20, placing it in the affordable range accessible to most collectors. The note was issued in multiple series (documented series include B, D, E, H, I, J, L, N, and K observed here), indicating substantial print runs. No evidence of limited mintage, recall, or short-lived issuer status exists. This represents standard-issue currency from an established national bank with typical survival rates for 1880s Colombian banknotes.

Issued on January 1, 1887, during a period of significant institutional development for Colombia's banking system, this Banco Nacional de Colombia note represents the establishment of formal national currency standards in the country. The portrait depicts Rafael Núñez, a prominent Colombian statesman and president who was instrumental in shaping Colombia's political and economic institutions during this era. The denomination equivalence marking it as '2 Reales' reflects the transitional currency systems of the period, as Colombia modernized from colonial Spanish monetary units toward the decimal centavo system.

The obverse features a three-quarter profile portrait of Rafael Núñez positioned in the lower left, rendered in formal 19th-century engraving style with careful attention to facial detail and period attire. The Colombian national coat of arms appears in the lower right quadrant. The upper right contains a circular denomination marker displaying '20'. Ornamental serpentine or dragon designs occupy the upper left corner, while the entire note is framed by intricate decorative border work featuring fine cross-hatching and geometric patterns characteristic of security printing. The reverse presents two large circular rosette medallions arranged symmetrically, filled with concentric circular patterns and surrounded by ornamental corner flourishes, creating a dense anti-counterfeiting design typical of HLBNC production. Serial number 298756 appears in red ink on the front.

Front Side: 'Banco Nacional de Colombia' (National Bank of Colombia); 'VEINTE CENTAVOS' (Twenty Centavos); '20' (denomination); 'PAGARA AL PORTADOR A LA VISTA' (Will pay to bearer on sight); 'BOGOTA 1 DE ENERO DE 1887' (Bogota 1st of January 1887); 'SERIE K' (Series K); 'DIRECTOR GERENTE' (Managing Director); 'DIRECTOR' (Director); signature 'Simon Herrera'; Serial number '298756'. Back Side: Partial text 'DOS' (Two) visible at edges. The note's primary obligation statement on the front indicates standard bearer-on-demand redemption language typical of 19th-century banknote practice.

Steel engraving on banknote paper, produced by the Homer Lee Bank Note Company (HLBNC) of New York. The design demonstrates the fine-line engraving technique standard to high-security banknote production of the era, featuring intricate cross-hatching, geometric patterns, and detailed portraiture all executed through the engraved steel plate process. The security printing elements include complex rosette patterns on the reverse and extensive decorative line work throughout both sides, characteristic of HLBNC's established reputation for anti-counterfeiting measures in late 19th-century banknote design.

This specimen is Series K, as marked 'SERIE K' on the obverse. Known series for this Pick number include B, D, E, H, I, J, L, and N. The serial number 298756 and signature of 'Simon Herrera' as Managing Director are documented on this example. Serial number prefix (if any) should be cross-referenced against known series patterns, though the single red-printed number visible suggests this is within standard numbering sequences rather than a special issue. No overprints or denominal errors are evident.