2017-11-30 Thu

From 11th to 13th January, New York City will be all geared up for the Stack’s Bowers Galleries as they will be showcasing the first installment of the Eldorado Collection of Colombian Coins and Paper Money as part of their official auction at the Grand Hyatt. The Eldorado Collection offered in two auction catalogs, is an important auction event in Latin American numismatics and is the finest ever cataloged.These catalogs are the initial offerings that feature many of the rarest and highest grade selections from this epic cabinet.

The paper money presentation gives a broad view of this subject ever published in English or Spanish. Commencing in 1819 and continuing to the present day are countless note types, from the majority of known series and issuers, offered in this and subsequent sales for the first time.

The lot descriptions and their accompanying colour images confirm rumoured examples listed, but unpriced, in the Standard Catalog of World Paper Money. Many are first-time individual offerings at public auction.

The collection includes a pair of unlisted Billete de Tesorería notes printed on watermarked paper. The Estados Unidos de Nueva Granada-Tesorería Jeneral issue is represented with three denominations. Printed on frail paper, their condition is superior to most known to collectors.

The golden age of Colombian paper money was launched upon the contracts made with the American Banknote Company in New York. Colombian notes from this quarter are the most beautifully engraved by ABNCo.

The Eldorado Collection includes notes from nearly all these private issuers, including those printed locally by D. Paredes, Bogotá.

Concurrent with the issuance of the private "bancos", commencing in the early 1880s, were notes printed by the ABNCo. for the Banco Nacional. These “National Banknotes” were backed by the federal authorities and this bank is the precursor of the current banking system in Colombia.

The bank wanted to issue its own notes and acted as the clearinghouse for the private banks. During the Civil War, the rest of the notes from several of these private banks were overprinted for the Banco Nacional in Bogotá.

Having already worked with other Latin American economies, Edwin Kemmerer was summoned to work with Banco de la República for Colombia.

In 1923, Law 25 created the bank which would authorize the Peso Oro on a gold standard, control exchange rates, make loans and perform as a state bank. The 1923 Colombia series and onward coincided with this law and are recorded in the second ABN sale record book offered in this sale.