5 pesos 1918

uncommon. While eBay market data shows VF-graded examples trading at $1,495 USD, this is still a regional bank issue from a relatively brief issuing period (pre-1921 reform). The PMG population report indicates limited professional grading activity for this Pick number. However, the strong market prices and modest trading volume suggest this note is sought after but not extremely scarce, placing it in the 'uncommon' category rather than 'rare.' The denomination, issuer, and historical significance drive collector demand.

This banknote was issued by Banco de Occidente during a pivotal period in Guatemalan history, just three years before the country's 1921 monetary reform. The reverse inscription 'LIBERTAD O MUERTE SET DE 1821' (Liberty or Death, September 1821) commemorates Guatemala's independence date and reflects the nationalist sentiment of the early 20th century. The allegorical female figures and maritime imagery represent the nation's ideals of liberty and commerce during a period of economic development in the western highland region centered at Quetzaltenango.

The obverse features a female profile portrait representing the Republic of Guatemala on the left side, paired with a seated female allegorical figure (likely representing Commerce or Progress) on the right, positioned against a maritime landscape backdrop. The design employs a black and brown primary palette with red/pink accents throughout. The reverse displays a circular central medallion encircled by laurel wreaths containing the national coat of arms or heraldic shield, surrounded by elaborate floral scrollwork and geometric patterns. The denomination numeral '5' appears in ornamental form in multiple locations. The entire design is characterized by the fine line-engraving work typical of Waterlow & Sons' security printing, with intricate borders of repeating geometric and floral motifs framing all elements.

FRONT: 'BANCO DE OCCIDENTE' (Western Bank), '5 QUETZAL' (5 Quetzals), 'EN QUEZALTENANGO' (In Quetzaltenango), '15 de Enero de 1918' (January 15, 1918), 'X No 906042 X' (Serial number 906042), 'REPÚBLICA DE GUATEMALA' (Republic of Guatemala), 'PAGARÁ AL PORTADOR EN MONEDA EFECTIVA Y A LA PRESENTACIÓN' (Will pay the bearer in effective currency upon presentation), 'CINCO PESOS' (Five Pesos), 'DIRECTOR' (Director), 'JIFENTE' (Chief/Manager), 'WATERLOW & SONS LIMITED LONDON WALL LONDON E.C.' (Printer identification). BACK: 'BANCO DE 5 OCCIDENTE' (Western Bank of 5), 'EN QUEZALTENANGO' (In Quetzaltenango), 'LIBERTAD O MUERTE SET DE 1821' (Liberty or Death, September 1821), 'WATERLOW & SONS LIMITED LONDON WALL LONDON E.C.' (Printer identification).

Intaglio line engraving, executed by Waterlow & Sons Limited of London, a world-renowned security printer. The intricate geometric borders, fine detail work in the portraits and allegorical figures, and complex ornamental patterns visible throughout both sides are hallmarks of high-quality intaglio engraving. The consistent depth of line work and the precision of the decorative elements confirm professional security printing standards of the period.

This specific note is identified as Pick catalog number P-S177, the 5 Pesos variant for Quetzaltenango. The visual analysis confirms the standard obverse design (woman at left, Mercury/allegorical figure at center) on gray and orange underprint with orange reverse, matching the catalog description. The serial number 906042 with 'X' prefix/suffix markers represents a single variety within the issue. PMG records indicate this is the primary (or only cataloged) variant for this base Pick number, with no major known sub-varieties documented for the 5 Pesos denomination.