Currency of Colombia accepted by all tax offices. Notes were to be issued for 5, 10, 20, 25, 50, 75, 80, and 100 pesos, but this decree was revoked on 4 November 1846 by President Mosquera, and no notes were issued. Silver .666 fine, dated 1839–1846 The 1840s found the currency still in a chaotic state. Monetary legislation perpetuated the problem by equating nominal value with intrinsic value and treating a peso .666 fine the same as a peso .903 fine. This guaranteed that Gresham's law would come into play, despite a law (1844) prohibiting the export of gold and silver coin. Customs
Portuguese Timorese escudo banknotes, below) may have been due to the exchange rate from the previous currency. The 10 and 30 centavos were struck in bronze, the 60 centavos and 1 escudo in cupro-nickel, and the 3 and 6 escudos in silver. In 1964, a silver 10 escudos was introduced, followed, in 1970, by more conventional denominations of 20 and 50 centavos, 1, 2½, 5 and 10 escudos. The 20 and 50 centavos and 1 escudo were struck in bronze, with the higher denominations struck in cupro-nickel. The first banknotes, dated 1959, were in denominations of 30, 60, 100 and 500 escudos. In