Questions and Answers regarding the 100th anniversary Commemorative Coin of Banco de la República (the Central Bank of Colombia)
1. Questions related to the coin exchange
Where can the public purchase the commemorative coin of the 100th anniversary of Banco de la República?
The commemorative coin will be available to the public as of Monday, 27 November 2023 and may be purchased at the twenty-nine (29) Banco de la República’s branches throughout the country, upon appointment request on the website of Banco de la República.
It has a face value of COP 20,000, is of legal tender, and may be used for any monetary transaction for the equivalent of its face value. The coin is delivered in a cloth pouch with a folding leaflet containing information about its features.
The coin in a special case (optional) has a value of COP 37,000.
Why can’t I exchange the coin virtually and have it delivered to my address?
Commemorative coins are securities on which there is a restriction on sending them by courier service. Banco de la República is exploring alternatives so that they can be acquired through the website and can be sent to the user's place of residence.
Why can’t a minor exchange the coin?
The Treasury Department’s current regulations establish as a requirement for cash exchange transactions at the Treasury counters the identification of the user through his/her citizenship card or first-time or duplicate ID. This means that minors are not allowed to carry out this type of transaction, including the purchase of commemorative coins.
2. Questions related to the design, production, or the reason why Banco de la República issues commemorative coins
Why does Banco de la República mint a commemorative coin of its 100th anniversary?
In compliance with Article 3 of Law 2282 of 05 January 2023, the minting of a commemorative coin to commemorate the 100th anniversary of Banco de la República is authorized.
What elements are found on the obverse and reverse of the commemorative coin of the 100th anniversary of Banco de la República?
The obverse shows a female figure representing an allegory of the Republic, adopted initially as such in France around 1792 and welcomed since the 19th century by other countries, including Spain, Argentina, and Brazil. It has received the name "Mariana," a combination of Marie, mother of Jesus, and Anne, mother of Mary, and it is known that it was a very common and popular female name in revolutionary France. Her original headdress, a Phrygian cap, was later replaced by a diadem, and since the 19th century, it has also been an allegory of liberty. Mariana as an allegory of the Republic has been used in the logo of Banco de la República since 1923, the year of its foundation. On the right, in a semicircle, appears the caption "CIEN AÑOS DEL BANCO DE LA REPÚBLICA" (one hundred years of BBanco de la República) and the years "1923" and "2023."
In turn, the reverse has a map of Colombia with the caption "100 AÑOS Generando confianza" (100 YEARS Building trust), the slogan adopted to celebrate the centenary of the institution. The map is surrounded by two circular stripes seeking to evoke, through various symbols, both the built trust by the institution and the management and preservation of cultural heritage. At the same time, it includes horizontally balanced geometric elements that represent stability and institutional soundness.
It is also inscribed with the following elements: i) the words “REPÚBLICA DE COLOMBIA” (REPUBLIC OF COLOMBIA); ii) “2023,” the mintage year; iii) the denomination of “20.000 PESOS” (COP 20,000); iv) a latent image as a security feature that, depending on the angle from which it is viewed, will reflect the initials "BR" (which stands for Banco de la República) or the Arabic numeral "20," and v) the number 20 in Braille.
What are the features or technical specifications of the coin?
The coin of the 100th anniversary of Banco de la República has a face value of COP 20,000, and 500,000 pieces were minted. The coin is made of an alloy composed of 75% +/- 2 copper, 5.0% +/- 2 nickel, and 20% +/- 2 zinc, yellow alpacca. Its diameter is 32 mm (± 0.1 mm), has an average weight of 18.34 g (± 3.0%), and will have a reeded edge.
Who manufactures the commemorative coins for the 100th anniversary of Banco de la República?
The design was made by the Department of Communication and Economic Education of Banco de la República. In turn, the coins were manufactured by the Mint in Ibagué.
