Currency of Colombia

Currency in Colombia has been used since 1622. It was in that year, under a licence purchased from King Philip III of Spain, that Turrillo de Yebra established a mint at Santa Fe de Bogotá and a branch mint at Cartagena de las Indias, where gold cobs were produced as part of Colombia's first currency. Silver milled coins date from 1627. In 1831, Gran Colombia dissolved into Venezuela and New Granada. In 1836, in New Granada, new monetary laws were passed, to standardise the money produced in the country. From 1861-1862, due to financial instability, the United States of New Granada accepted British currency, the name of the country becoming the United States of Colombia in 1862. In 1880, Colombia pegged the peso to the gold standard due to the falling price of silver. In 1886, the paper peso was introduced. In 1931, Colombia abandoned the gold standard and switched to the current form of the peso.

Peso = 8 Reales
Escudo = 2 Pesos (after 1686)

During the Spanish colonial period, present-day Colombia was part of the New Kingdom of Granada (Nuevo Reino de la Granada, or more simply Nueva Granada).

In 1620, Philip III sold a license to Alonso Turrillo de Yebra to establish a mint at Santa Fe de Bogotá and a branch mint at Cartagena de las Indias. These two mints began production of gold cobs in 1622—the first gold coins struck in the Americas. The Cartagena mint operated sporadically, finally closing in 1655. The Bogotá mint (sometimes called the Santa Fé or the Nuevo Reino mint) continued producing gold cobs until 1756. Its production of silver cobs was very limited. The earliest known piece of eight from Bogotá is dated 1627. Cobs were a special problem because their irregular shape invited clipping, so most cobs were (eventually) under legal weight (although of proper fineness).

...
Wikipedia