2 quetzales 1936

Common. The eBay price data shows a wide range of listed examples selling from $3.95 to $1,210.00 USD, with multiple examples in the sub-$200 range, indicating substantial numbers of this note survive in the market. The 2016 catalogue value for VG condition is $30, and multiple comparable examples are readily available through dealer channels. While the 1936 issue predates the 1942 variant (P-15b), there is no evidence from PMG population reports or market data suggesting scarcity for P-15a specifically. The wide availability across multiple condition grades confirms this is a common note in collector market.

This 1936 issue represents an early regular currency emission by Guatemala's Central Bank during the mid-20th century, a period of institutional financial development in Central America. The landscape vignettes—featuring mountains, lakes, and tropical vegetation—reflect Guatemala's distinctive geography and natural resources, specifically the volcanic highlands and water systems that define the country's landscape. The note's design and the reference to an 'Agreement of January 1938' suggest this issue was part of Guatemala's efforts to establish stable currency backed by formal banking institutional authority.

The obverse features a landscape vignette depicting mountainous terrain with a lake or river, flanked by tropical palm vegetation on left and right sides, executed in fine line engraving. Quetzal bird motifs appear in the upper left and right corners as ornamental elements, reflecting Guatemala's national symbol. The design employs ornate scrollwork, flourishes, and decorative cartouches throughout the border in red and rose coloring. The reverse similarly features a water landscape with reeds or marsh vegetation in a central vignette, with large ornamental quetzal bird designs in the left and right corners. Serial numbers are printed in the upper left and right of the obverse. The color scheme throughout is predominantly red, rose, pink, and tan/beige on green-tinted background paper.

Front side: 'BANCO CENTRAL DE GUATEMALA' (Central Bank of Guatemala); 'GUATEMALA, CENTRO AMERICA' (Guatemala, Central America); 'Páguese al portador en efectivo, a la vista y a la par' (Pay to bearer in cash, on sight and at par); 'Acuerdo de Enero de 1938' (Agreement of January 1938); 'INSOLVIBLE' (Uncollectible/Unenforceable - likely a specimen or cancelled marking); Serial number 'C1540087'; Reference number '65 491'. Back side: 'BANCO CENTRAL DE GUATEMALA' (Central Bank of Guatemala); '2 DOS QUETZALES 2' (2 Two Quetzals 2).

This note was produced by W&S (Waterlow & Sons, London), utilizing the steel engraving and letterpress printing techniques characteristic of high-security banknote production of the period. The fine line work visible in the landscape vignettes, the ornate border designs, and the decorative cartouches all indicate skilled intaglio/engraving work. The precision of the serial numbering and security features reflects the technical capabilities of one of the world's premier security printers of the 1930s.

This note is catalogued as Pick P-15a, with a known variant P-15b also existing for this denomination and date range. Both variants were printed by W&S. The specific variety can be confirmed by the printer attribution (W&S for both), but additional distinguishing characteristics between P-15a and P-15b would require examination of the signature titles, date variations, or other design elements. The observed signature title 'GERENTE' (Manager) is noted in reference materials as characteristic of this issue. The serial number prefix 'C' and format should be verified against known ranges to confirm the specific Pick designation, though the catalog information and visual characteristics are consistent with P-15a designation.