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Currency in Colombia denotes the ingots, coins, and banknotes that have been used in Colombia since 1622. It was in that year, under a licence purchased from King Philip III of Spain, that Alonso 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.
The notemanufacturing process lasts 28 days, from first printing to delivery to the Treasury. The average life of paper currency in Colombia from the moment it is put into circulation is one year. [16] In 2012, the lifespan of the 20,000 peso note was higher, at 21 months, although this is still less than the 34 months for the 50,000 peso note.