5 Pesos

Banco de Occidente was a regional Colombian bank headquartered in Cali, and by 1918 it was operating under considerable pressure — the Law 51 of 1928 would eventually force the liquidation of most private Colombian banks of issue, though this note predates that reckoning by a decade. Waterlow & Sons had a long relationship with Colombian private banks, supplying engraved notes to several regional issuers simultaneously, which means the general design framework here likely shares plate elements with other Colombian provincial issues of the period.

Pick 177 is not commonly encountered, which may reflect limited original print runs rather than heavy circulation losses.