Colombia Gold 5 Pesos Coin | Colombian gold | Colombia and Gold Standard

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In 1880, Colombia pegged the peso to the gold standard due to the falling price of silver. Simultaneously, 5 Peso Colombian Gold Coins were first issued in 1880. These pesos are identical to British Gold Sovereign in gold content and weight. Each coin contains .2355 troy oz of 22-karat gold, or 91.67% gold content per coin. In 1886, the paper peso was introduced. In 1931, Colombia abandoned the gold standard and switched to the current form of the peso.