1 lempira 1951

Common. While PMG 65 EPQ is a premium grade, this note type was issued in substantial quantities by the Banco Central de Honduras in 1951. eBay market data shows consistent availability with sales ranging from $3.55 to $134.50 across various grades from 2012 to 2025. Even high-grade examples (PMG 66) sold for approximately $76 in 2019. The 2016 catalog value for UNC was only $35, and the note remains readily obtainable in the market. There is no evidence of a short print run, recall, or scarcity that would elevate this to a higher rarity classification.

Issued on December 23, 1951, this note represents Honduras's post-war monetary system under the Banco Central de Honduras, which had been established in 1950. The classical Liberty figure wearing a Phrygian cap on the obverse reflects democratic ideals popular in the Western Hemisphere during the early Cold War period, while the architectural marketplace scene on the reverse may reference Honduras's indigenous heritage or colonial trading traditions, connecting the modern nation-state to its historical roots.

The obverse features a classical allegorical female figure in profile facing right, wearing a Phrygian liberty cap, positioned on the left side of the note. This classical iconography was common in Western democratic currencies. A large ornamental numeral '1' dominates the center, flanked by decorative floral and geometric corner elements. The Honduran national coat of arms appears on the right side in an oval frame, representing state authority. The reverse showcases a prominent circular vignette depicting an interior architectural scene with multiple figures in what appears to be a marketplace or public building, rendered in fine detail through engraving. Large ornamental '1' numerals occupy all four corners with matching decorative border patterns. The entire design employs a red-on-cream color palette typical of Waterlow & Sons' prestige work.

FRONT: 'República de Honduras' (Republic of Honduras); 'El Banco Central de Honduras' (The Central Bank of Honduras); 'Pagará al Portador a su Presentación' (Will pay to bearer upon presentation); 'UN LEMPIRA' (One Lempira); 'Lempira' (currency denomination); '23 de Diciembre de 1951' (December 23, 1951); Serial number 'K 453907' (appears twice in red). BACK: 'Banco Central de Honduras' (Central Bank of Honduras); 'UN LEMPIRA' (One Lempira); 'Waterlow & Sons Limited, Londres' (Waterlow & Sons Limited, London - printer attribution).

Intaglio engraving (line engraving and steel plate printing), executed by Waterlow & Sons Limited of London, one of the world's foremost security printers of the era. The fine line engraving patterns visible throughout, the complex ornamental borders, detailed circular vignette, and intricate security elements all indicate classical intaglio production methods. The sharp printing quality and fine detail preservation reflect the high standards of Waterlow's craftsmanship.

Pick 45b designation indicates this is the second known variety of the 1951 1 Lempira issue. Serial number K 453907 observed on this specimen suggests the K prefix series. The exact variety distinctions (45a vs 45b) typically involve differences in signatures, serial number formats, or minor design modifications. Without comparison to catalogued 45a examples, the specific distinguishing features of this 45b variety cannot be precisely identified from the visual analysis alone, though the three visible signatures and red serial number formatting are consistent with the standard 1951 issue parameters.