20 markkaa 1922
Market Prices
1 saleAbout This Note
This 1922 Finnish 20 markkaa note (Pick P-63) presents in exceptional condition with sharp, clear printing throughout and no visible signs of circulation wear. The striking mauve and rose-pink design features a prominent oak tree illustration in a central oval medallion on the obverse, with the reverse displaying an ornamental heraldic emblem—both rendered in intricate security patterns characteristic of early 20th-century Bank of Finland production. This bilingual note (Finnish and Swedish text) represents an important piece of Finland's early independence-era currency and remains highly collectible despite its relative availability in the market.
Common. Market evidence from realbanknotes.com shows VF-graded examples selling for approximately $15 (2016 catalog value), with eBay transaction data indicating prices under $20 even for comparable grades. The 1922 20 markkaa (Pick P-63) was issued in substantial quantities during Finland's early independence period and remains readily available to collectors. No print run restrictions, recall information, or short-lived issuing circumstances suggest rarity.
This note was issued in 1922 by the newly independent Bank of Finland (Suomen Pankki/Finlands Bank), just four years after Finland declared independence from Russia in 1917. The oak tree depicted on the obverse carries symbolic weight for Finnish national identity, while the heraldic emblem on the reverse represents the nation's sovereignty and administrative authority. The bilingual inscriptions reflect Finland's complex linguistic heritage, with both Finnish and Swedish text acknowledging the country's Swedish-speaking minority and historical ties.
The obverse features a large oak tree—a symbol of Finnish strength and permanence—positioned within a central oval medallion and flanked by ornamental corner frames containing the denomination '20'. The reverse displays a heraldic emblem, likely incorporating elements of the Finnish national coat of arms or state seal, rendered within an identical oval medallion format and surrounded by identical corner denomination frames. Both sides employ extensive guilloche patterns and fine-line security printing as borders and background fills, creating a unified aesthetic. The note's mauve and rose-pink color scheme was typical of Finnish currency of this era. The bilingual text arrangement reflects the official status of both Finnish and Swedish as languages of the state.
Front side: '20' (denomination in corners); 'Litt. O' (letter designation); 'SUOMEN PANKKI' (Bank of Finland in Finnish); 'MARKKAA' (Marks); 'FINLANDS BANK' (Bank of Finland in Swedish); 'TJUGO MARK' (Twenty Marks in Swedish); '1922' (year of issue); 'Z027591D' (serial number). Back side: '20' (denomination in corners). The note carries signatures of two authorized officials below the tree on the obverse, though individual names are not clearly legible in the visual analysis provided.
Intaglio (engraved) printing on banknote paper. The exceptionally fine line work, ornamental guilloche patterns, and intricate security features visible throughout indicate high-quality intaglio production typical of Bank of Finland notes from this period. The sharp detail preservation and consistent ink application suggest professional security printing, likely executed by a specialized banknote printer such as Sporrong or another Nordic security printer contracted by the Bank of Finland.
The observed note carries the serial number Z027591D and is designated as 'Litt. O' (Letter O), indicating it belongs to a specific printing batch or series. These letter designations and serial number prefixes are standard variety markers for this issue. Without access to comprehensive Finnish banknote variety catalogs, specific printing run identification cannot be definitively established, but the 'Z' prefix and 'Litt. O' designation represent the variety characteristics for this particular specimen.
