500 Pesos Oro

Colombia's state printing house, the Imprenta de Billetes, had by the early 1990s established a credible domestic production capability, and this note is entirely a local product — design, engraving, and manufacture all handled in Bogotá without recourse to the European security printers that earlier Colombian series had depended upon. The shift was deliberate policy, driven in part by cost and in part by a post-Gaitán-era nationalism in public institutions that ran deep into the 1990s.

The P#431A suffix indicates a variety distinction within the 1992–1993 run, likely a signature combination change. Watermarking remains the sole listed security feature, modest by the standards of the period.