Colombia Panama Philatelic
1890 January and Second Issues Cubierta Cover
50 centavos January Issue and 1 Peso Second Issue on cover from La Cruz to Popayan, December 12, 1903.
Pair of $1 Peso and a single 50 centavos paid to send $47 and 20 gm single letter rate.
As of January 1, 1903, the declared value rate was 50 centavos per $10 Pesos gold to a maximum of $100 Pesos.
Cubiertas were not demonetized as were stamps, as their sale and use was controlled.