1 Peso

Banco Popular was one of several private Colombian banks chartered under the 1871 banking law, which deliberately kept note-issuing rights fragmented among regional institutions rather than centralizing them in a single national bank. The result was a crowded, competitive market for private paper money throughout the 1870s, with each bank responsible for maintaining its own redemption in specie.

Paredes & Co. was among the more capable domestic lithographers working in Bogotá at the time, though Colombian-printed notes from this period rarely match the engraving depth of contemporaneous European-printed issues from the region. The 1877 date places this note close to the monetary disruptions preceding Colombia's 1880 establishment of the Banco Nacional.