In our Treasure, World Coin & Paper Money Auction 40, we feature a rewarding selection of Latin American banknotes, led by important rarities of Chile and Colombia.
The Colombian offering includes the remarkable Banco de Colombia fifty pesos face proof of 1875, the Banco de Bogotá ten pesos of the same year, and a group of elusive private issues, several cataloged as unique. Chile contributes early Valdivia necessity money, rare private bank emissions and the fiscal overprints of 1898. Selected notes from Costa Rica, Guatemala, Mexico and the United States broaden the historical and geographical range.
Here are twenty rare banknotes featured in our upcoming sale that represent key opportunities for astute paper money collectors.
Four main rarities
Lot 1475. COLOMBIA, Bogotá, Banco de Colombia, proof 50 pesos, 1-4-1875, serial D, unique, PMG AU 53, finest and only example in PMG census
Estimate: $9,000 to $13,500
DP-6723p; Pick-unlisted. A striking face proof for this Banco de Colombia note printed by Paredes of Bogotá featuring a large vignette of an Andean condor in a stylistic depiction of the arms of Colombia. Incredibly rare with no examples in the Eldorado Collection and this being the only example graded by PMG. The red seals against the blue paper stand out prominently and the black design is quite bold with only some handling noted in the corners. Pedigreed to the J. Cuartas Collection (stated on label).
Lot 1476. COLOMBIA, Bogotá, Banco de Bogotá, 10 pesos, 15-2-1875, serial C, serial 2584, unique, PMG Choice F 15, finest and only example in PMG census, Compendio Histórico del Papel Moneda en Colombia Plate Note
Estimate: $7,500 to $15,000
DP-6223; Pick-S274. The rarity of this note cannot be overstated since it is among the first notes issued by the Banco de Bogotá after its founding in 1870. Its ornate design, created by Perkins, Bacon and Co. of London, is sharply rendered in black ink with several circular red denominators throughout, the reverse showing a large design centered around the signature of the Cajero. While circulated with some stains and a small internal split near the left margin, the sharpness of the design suggests a higher grade than assigned. This is the only example recorded to date for this denomination and series issued during the existence of the Banco de Bogotá. Plated on page 449 of Compendio Histórico del Papel Moneda en Colombia (2014), by Danilo Parra Ariza.
Lot 1488. COLOMBIA, Sopetrán, José María Melguizo H., 1 peso, 19-1-1900, serial 5330, black overprint on a Banco de Sopetrán 1 peso remainder, unique, PMG VG 10 NET, finest and only example in PMG census, Compendio Historico del Papel Moneda en Colombia Plate Note
Estimate: $6,000 to $9,000
DP-13580; Pick-S918. Rare local issue of José María Melguizo H., with a bold black overprint, date and serial number applied to a Colombia Banco de Sopetrán 1 peso remainder (Pick-S918). Previously mounted and well circulated, with the expected handling and surface wear for the grade, yet the principal design elements, overprint, date and serial remain readily legible. An unusually elusive Colombian private issue and a significant survivor from Sopetrán. Plated on page 1002 in the Compendio Historico del Papel Moneda en Colombia (2014) by Danilo Parra Ariza.
Lot 1455. CHILE, Santiago, Banco de la Alianza, 20 pesos, 13-12-1872, serial D2213, red overprint on a Banco Nacional de Chile 20 pesos remainder, extremely rare, PMG VF 20, finest and only example in PMG census, ex-Burstyn
Estimate: $3,500 to $5,000
Pick-S118. Overprinted on a Banco Nacional 20 pesos (Pick-S320). The Banco de la Alianza and Banco Nacional were owned by the same shareholders, and the former was founded to expand the authorized total amount to be issued. It was closed in 1879, after the crisis of 1878 triggered the end of the redeemability of the private bank issues in silver or gold. Nice, bold host note design and red overprint with vignettes of a plowing scene at left and the arms of Chile at center, a bit circulated yet eye-appealing with only some pinholes to note. Listed as rare in the Pick catalog and not priced at any grade. Pedigreed to the Leon Burstyn Collection.
Chile: early paper, private banks and fiscal currency
Lot 1472. CHILE, Valdivia, Tesorería y Aduana Unidas Valdivia, 4 reales, 1840, very rare, PMG Choice F 15 NET
Estimate: $2,500 to $3,750
Among the earliest Republican bank notes of Chile, and rather choice for this local necessity issue. This series circulated in the southern Province of Valdivia, issued in denominations of 4 and 8 reales between 1840 and 1844, and recalled almost in its entirety. Unredeemed notes are unknown and presentable examples of this very scarce 4 reales denomination are rare. Circulated with a sewn horizontal split but otherwise quite presentable with bold printing of its basic design including several stamped seals on both sides, overall quite rare as one of just two notes in the PMG census below a VF 25 example and an appealing example of the first paper money of Chile.
Lot 1441. CHILE, Santiago, República de Chile, 10 pesos, serial G20161, 1-8-1898 black/red EMISION FISCAL overprint on a Banco Nacional 10 pesos, rare, PMG F 12
Estimate: $2,000 to $3,000
Pick-48. Overprinted on a Chile Banco Nacional 10 pesos (Pick-S334). The Fiscal issue of 1898 utilized remainder notes of the old private banks, with the overprint EMISION FISCAL LEI 1.054 DE 31 DE JULIO DE 1898 on the back. Very rare example of this provisional issue with a different date than documented in Pick (also unpriced at any grade). One of just two in the PMG census, the other only slightly finer at Fine 15. Bold host note design with faded but certain overprint (black on the obverse, red on the reverse), only a single pinhole at the center to note.
Lot 1450. CHILE, Rere, Banco de Rere, 20 pesos remainder, no date (1890s), series A, serial 17464, PMG VF 25 NET, finest known in PMG census
Estimate: $2,000 to $3,000
Pick-S389. The only two denominations made for the Banco de Rere, 10 and 20 pesos, are only known as remainders. Bold design printed by Waterlow & Sons with vignettes of a train at left and armored bust at right, fully framed with wide margins, some repairs done around the edges where some small paper pulls have occurred as well as partial erasure of added signatures and date. Very rare and the finer of just two in the PMG census.
Lot 1459. CHILE, Santiago, Banco Mobiliario, 20 pesos, 2-1-18XX (1880s), serial 47697, very rare, PMG F 12, finest and only example in PMG census
Estimate: $800 to $1,200
Pick-S309. Very rare in issued form and probably the first time anyone has seen such an example; the Pick catalog only states “proof” for the type and the PMG census only indicates a few proofs and specimens graded there. Well-handled note though still possessing a bold face design with vignettes of an armored bust at left, an Andean condor at center, and a man with llamas at right. The bottom left corner is missing and a pair of staple holes are noted at left plus a few small rust spots along the top margin.
Lot 1460. CHILE, Santiago, Banco de Santiago, 10 pesos, 8-12-1883, series A, serial 53931, very rare, PMG Choice F 15, finest and only example in PMG census
Estimate: $2,000 to $3,000
Pick-S414a. A fascinating rarity with a detailed design made by the American Bank Note Company featuring numerous vignettes with bank title and red denomination 10 at center, penned and stamped signatures at bottom along with stamped date. Wide margins on three sides with some edge damage localized to the right margin, a few tiny rust spots noted as well.
Lot 1467. CHILE, Valparaiso, Banco Consolidado, 5 pesos, 3-1-1877, serial 23055, rare, PMG Choice F 15, finest and only example in PMG census
Estimate: $2,000 to $3,000
Pick-S188a. Very rare example of the “convertible” group of issues which were redeemable in gold and silver. Circulated note with some edge damage and paper pulls along with many pinholes and a few minor repairs yet still showing off its bold design graced by vignettes of an allegorical woman at left, cherubs in the center, and cherubs with a scroll at the right.
Colombia: banknotes, proofs and local money
Lot 1480. COLOMBIA, Medellín, Agencia Bancaria, 50 pesos, 29-3-1898, serial 79, unique, PMG VF 30, finest and only example in PMG census, Compendio Histórico del Papel Moneda en Colombia Plate Note
Estimate: $2,500 to $3,750
DP-5540; Pick-unl. A key Colombian banknote rarity as the only known example, this large format Agencia Bancaria note possesses great eye appeal as the handling wear is modest and the printing is bold throughout. Numerous bank and government stamps are seen on both sides and the penned date is quite strong. The label notes a few minor rust spots but these do little to detract from this rare note. Plated on page 393 of Compendio Histórico del Papel Moneda en Colombia (2014), by Danilo Parra Ariza.
Lot 1481. COLOMBIA, Medellín, Banco Popular de Medellín, 5 pesos, 7-9-1899, series 2a, serial 13269, black overprint on a Banco Republicano 5 pesos, extremely rare, PMG F 12 NET
Estimate: $3,000 to $4,500
DP-9181; Pick-unl. A handsome, colorful example of this very rare Banco Popular overprint across the reverse of a previously issued Banco Republicano 5 pesos note (Pick-S812a, DP-9281). Some repairs have been done in areas across the face and margins, which the PMG label notes as Repaired and Pieces Added. Much of the host note design is bold, with nice colors noted in the flags flanking the design, a popular feature found on this rare overprint-and-host combination.
Lot 1483. COLOMBIA, Bogotá, G. de Caycedo & Ca., 25 centavos, 1-1-1884, unique, PMG Choice UNC 63, finest and only example in PMG census
Estimate: $2,000 to $4,000
DP-12430; PickS886Ap. A gorgeous proof example of the only denomination issued by this company based in Bogotá that contracted Howard and Jones of London to print it. Boldly printed with great centering and wide margins, nice paper quality.
Lot 1486. COLOMBIA, Hacienda Entre Rios, 10 centavos, 28 April 1900
Estimate: $3,500 to $5,000
Pick-unl; DP-unl. Exceptionally rare local hacienda issue, dated 28 April 1900 and printed by Eugenio Pardo of Bogotá, produced during the monetary disruption of Colombia’s Thousand Days’ War. Clear printing and strong signatures remain despite some staining and areas of thinning from circulation and handling. Unique, and at present the finest and only example recorded in the PMG census. Pedigreed to the Neil Shafer Collection of “Money of the People” in Lyn Knight Memphis Auction of June 2014, lot 5244.
Lot 1487. COLOMBIA, Málaga, El Rayo X, 10 centavos, September 1902, serial 0162, unique, PMG VF 20, finest and only example in PMG census, Compendio Historico del Papel Moneda en Colombia Plate Note
Estimate: $3,000 to $4,500
DP-11100; Pick-unl. A fascinating small-denomination privately issued note that is plated in Compendio Histórico del Papel Moneda en Colombia (2014) and described there as the only example known. Circulated with a missing corner tip yet the black ink design, while crude, is readily legible. Plated on page 845 of Compendio Historico del Papel Moneda en Colombia (2014) by Danilo Parra Ariza.
Lot 1490. COLOMBIA, Palmira, Hacienda de la Manuelita, 20 centavos, (1900), extremely rare, PMG Choice F 15
Estimate: $3,000 to $4,500
The much rarer version of the only denomination issued by this private hacienda in 1900, this one printed by M. Saray & Ca. of Bogotá. Well circulated with a few small internal holes and paper pulls on the back from prior mounting yet possessing a clear front printing in black ink.
Beyond Chile and Colombia
Lot 1492. COSTA RICA, San José, Banco Internacional, 5 colones, 9-10-1918, series B, serial 52659, black overprint on 1-12-1916 5 colones, PMG VF 30, “top pop”
Estimate: $1,500 to $2,250
Tied with one other for finest known in the PMG census. Quite colorful with nice margins around the design and a bold overprint on the back, some stain spots on the reverse, quite rare in any grade.
Lot 1493. GUATEMALA, Quezaltenango, Banco de Guatemala, 5 pesos, 10-9-1896, serial 16378, PMG F 12, “top pop”
Estimate: $1,000 to $1,500
Pick-S149A. About Fine with missing lower-left corner plus a few pinholes, yet the design remains bold with clearly legible date, a very rare type for this bank with the text SUCURSAL QUEZALTENANGO at top, tied with one other for finest known in the PMG census.
Lot 1495. MEXICO, Chihuahua, Banco Minero Chihuahuense, 1 peso, 1880, serial 36441, with red VALE overprint
Estimate: $300 to $450
Frampton-M148a; Pick-S175a. With red VALE POR PESOS FUERTES A LA PAR. overprint. Considerably rare type from this banco with bold red overprint horizontally across its face. Bold Very Fine with a single pinhole in the upper left corner.
Lot 1508. UNITED STATES, Continental Congress, $2/3 “Fugio note,” February 17, 1776, serial 62954, plate B
Estimate: $250 to $375
FR-CC-22. Signed by Samuel Sellers. Very Fine example of the highest denomination issued in the iconic Fugio Continental dollar series, a design created by Benjamin Franklin. The obverse vignette depicts a sunface shining down on a sundial with the legend FUGIO and MIND YOUR BUSINESS beneath; the reverse shows thirteen rings, one for each of the colonies, around a sunburst with text AMERICAN CONGRESS and WE ARE ONE. Well printed with clear design throughout and bold signature, small split in margin of lower left corner and small residue spot at top.
What makes this offering worth studying
The strongest connection among these notes is the evidence they preserve. The Colombian plate notes can be matched to published references; the Chilean overprints record a change of issuing authority; the proofs distinguish printers and methods of production; and the local private issues preserve names that scarcely appear in ordinary national currency collections. Condition varies considerably, and repairs, missing paper and mounting traces should be weighed alongside rarity and provenance.
For us, the opportunity is to compare these different forms of survival in one sale. A colorful proof, a worn but documented private note and a plainly printed necessity issue can each represent a major acquisition for the right collection. We encourage bidders to examine both sides of every note and read the complete description before deciding where to concentrate.
Auction information
Sedwick & Associates, LLC
Treasure, World Coin & Paper Money Auction 40
Dates: November 5 to 7, 2026
Featured paper money: Session 5, Medals & World Paper Money
Session 5 begins: Friday, November 6, 2026, at 5:00 PM Eastern Standard Time
Buyer’s premium: 22% of the hammer price, plus applicable taxes, fees and shipping
All twenty lots featured here are in Session 5. The session begins with medals, so individual paper money lots will be offered later as the sale progresses. The full auction comprises nearly 1,950 lots across six sessions.
Contact: P.O. Box 1964, Winter Park, Florida 32790, USA
Telephone: +1 407 975 3325
Email: auction@sedwickcoins.com
Browse Session 5, register and bid directly at Sedwick
The individual lot pages are the definitive source for current descriptions, estimates, corrections, photographs, bidding and auction terms. Estimates and census statements in this preview reflect the information available at preparation.
Sources and further reading: The twenty original Auction 40 lot descriptions and photographs linked above; Danilo Parra Ariza, Compendio Histórico del Papel Moneda en Colombia (2014), plate references as cited in the auction catalog; PMG, Sedwick Offers PMG certified Vintage Rarities from Latin America; Chilean Gold Rarities and Three Great Collections in Auction 40.
Leave a Reply