1/2 quetzal 1948

Common. While this is an attractive early issue, the eBay price data shows AUNC examples selling for approximately $102.50 (2020) and VF examples for $36–77, with catalog values (2016) placing UNC examples at $85. These moderate secondary market prices and the availability of multiple sales records indicate this is a regularly traded note without scarcity premiums. The 1948–1954 series had a substantial print run, and examples in all grades remain readily available to collectors. No evidence of recall or restricted issue.

Issued on September 15, 1948—Guatemala's Independence Day—this note commemorates the nation's sovereignty during the early post-war period under the administration of President Juan José Arévalo (1945–1951). The depicted imagery reflects Guatemala's historical pride: the Ermita del Cerro del Carmen fortress represents the colonial religious heritage, while the Chichicastenango landscape vignette honors the indigenous cultural heartland of the highlands. The American Bank Note Company printing reflects Guatemala's reliance on international security printers for currency production during this era.

The front features a fortified religious structure—the Ermita del Cerro del Carmen in Guatemala City—rendered in a detailed landscape vignette on the left side, symbolizing Guatemala's colonial religious heritage. A dove in flight appears in the upper center, representing peace and sovereignty. The denomination '00.50' is prominently displayed in an ornate oval cartouche center-right. The reverse depicts a colonial-era surveyor or engineer holding a theodolite, with workers and mountainous terrain in the background representing the Chichicastenango landscape—an allegorical reference to Guatemala's development and territorial mapping. Both sides feature symmetrical ornate corner medallions and decorative geometric borders in fine engraving. The color scheme is predominantly brown, tan, and gray with crisp black line work throughout.

FRONT: 'BANCO DE GUATEMALA' (Bank of Guatemala) | 'GUATEMALA, CENTRO AMÉRICA' (Guatemala, Central America) | '00.50' / 'CINCUENTA CENTAVOS DE QUETZAL' (Fifty centavos of quetzal) | 'ERMITA DEL CERRO DEL CARMEN' (Hermitage of Cerro del Carmen) | 'PRESIDENTE' / 'GERENTE' (President / Manager) | '15 Septiembre 1948' (September 15, 1948) | 'AMERICAN BANK NOTE COMPANY' | Serial number: 000827. BACK: 'BANCO DE GUATEMALA' (Bank of Guatemala) | '1/2' / '00.50' / 'CINCUENTA CENTAVOS' (Fifty centavos) | 'PAISAJE DE CHICHICASTENANGO' (Landscape of Chichicastenango) | 'AMERICAN BANK NOTE COMPANY'

Intaglio engraving (line engraving with cross-hatching) executed by the American Bank Note Company, New York. The note exhibits characteristic ABNC security features including fine line work, intricate geometric patterns, complex cross-hatching in background areas, and delicate microprint-style details in decorative elements. The engraving is of high quality with no visible deterioration, consistent with ABNC's premium security printing standards for the era.

This specific example bears serial number 000827, suggesting it is from an early printing. The note is dated 15 Septiembre 1948 (the initial printing date). Known varieties for P-23 include signature variations (president and manager signatures vary by printing period) and serial number prefixes corresponding to different printing batches within the 1948–1954 series. The American Bank Note Company imprint is consistent across all varieties of this issue. No overprints or special markings are evident on this example.