Currency of Colombia exchange. The notes were never issued (proofs are known). Copper coin dated 1847–1848 The copper coins were rejected by the public, who immediately exchanged them for silver, so they were recalled and melted down. Silver coin dated 1847–1853 .666 fine .900 fine Gold coin .900 fine dated 1848–1853 New machinery for the mints of Bogotá and Popoyán arrived in 1848 and the first gold coins conforming to the 1846 law were put into circulation on 14 February 1849. Peso (Granadino) = 10 Décimos = 100 Centavos (silver) Cóndor = 10 Pesos (gold) The monetary law of 30 May 1853 abolished
Gold standard to Congress the value of a decimal system. This system would also apply to monies in the United States. The question was what type of standard: gold, silver or both. The United States adopted a silver standard based on the Spanish milled dollar in 1785. From 1860 to 1871 various attempts to resurrect bi-metallic standards were made, including one based on the gold and silver franc; however, with the rapid influx of silver from new deposits, the expectation of scarce silver ended. The interaction between central banking and currency basis formed the primary source of monetary instability during this period.