1 peso 1920
Market Prices
1 saleAbout This Note
This is an UNC example of the Banco de Occidente 1 peso from 1920, printed by Waterlow & Sons of London. The note features classical allegorical imagery with a portrait of a woman on the obverse and Liberty with laurel wreath on the reverse, rendered in fine line engraving with period-appropriate security features. While the obverse shows expected foxing and age patina consistent with a century-old note, the reverse remains well-preserved, demonstrating the excellent condition claimed by the UNC grade.
Common. While this is a specific variety from 1920, Banco de Occidente notes from this period were produced by a major international security printer in what were likely substantial quantities for circulation in Guatemala. The reference eBay data shows an EF example selling for $147.50 in 2024, indicating accessible pricing typical of common early 20th-century Latin American banknotes. The UNC condition commands a premium, but the issue itself is not scarce.
Issued by the Banco de Occidente, based in Quetzaltenango, Guatemala during the post-WWI period, this 1920 note reflects the early 20th-century modernization of Central American banking. The obverse depicts a tropical agricultural settlement with palm trees and figures engaged in labor, symbolizing Guatemala's economy rooted in agriculture and colonial-era commerce. The reverse features Liberty and the date '15 de 1821,' referencing Guatemala's independence movement, connecting the note to nationalist sentiment during this period of relative stability in Guatemalan banking.
The obverse features an ornate decorative border with a classical female portrait (representing a personification of prosperity or commerce) in a circular frame on the left, accompanied by an elaborate engraved scene of a tropical colonial settlement complete with palm trees, multiple figures engaged in agricultural or commercial activity, and period architecture—symbolizing Guatemala's plantation economy. The reverse displays a central circular medallion containing an allegorical female figure representing Liberty, adorned with a laurel wreath and holding a banner or tablet, surrounded by elaborate scrollwork and geometric borders in a symmetrical classical composition. The color scheme comprises black and green on the obverse with beige and tan tones, and mauve-brown with purple tones on the reverse, typical of Waterlow & Sons' fine intaglio work from this era.
OBVERSE: 'Banco del Occidente' (Bank of the West); 'Quetzaltenango' (city location); 'Un Peso' (One Peso); '9 de Junio de 1920' (9th of June 1920); Serial number '3672906'; 'Pagará a la vista al portador' (Will pay on demand to bearer); 'La moneda recibida' (Currency received); 'Waterlow & Sons, J.4 London Wall, London' (Printer); 'Director' and 'Gerente' (Director and Manager, signature lines). REVERSE: 'Banco del Occidente' (Bank of the West); 'Un Peso' (One Peso); 'Quetzaltenango' (city location); 'Libertad 15 de 1821' (Liberty 15th of 1821); 'Waterlow & Sons Limited, London Wall, London, E.C.' (Printer).
Intaglio engraving (line engraving) by Waterlow & Sons Limited, a London-based security printer renowned for banknote production. The fine line engraving is evident throughout both sides, with elaborate decorative borders, ornate frames, and detailed figural work designed as security features. The note exhibits color separation characteristic of period multicolor intaglio printing, with distinct color application on each side.
This note corresponds to Pick catalog P-S175b, specifically the 1920 issue dated 9 de Junio de 1920 (June 9, 1920). The visual analysis confirms this date variant, distinguishing it from other cataloged date variants (1916, 2.11.1921). The serial number observed (3672906) indicates mid-range production numbering. No overprints, signatures, or other distinguishing variety markers are noted that would separate this from the standard P-S175b issue.
