10 Quetzales

Guatemala's 10 Quetzal denomination has been issued continuously in various forms since the 1940s, but by 2003 the series had settled into a long run of Oberthur-produced notes that changed little in security specification from year to year. The security thread and watermark combination here was already considered minimal by contemporary central bank standards — Guatemala was notably slower than neighboring Central American issuers to adopt polymer or more sophisticated optical features.

Oberthur Fiduciaire's Chantepie facility handled a substantial portion of Latin American production during this period, making this note one of many regional issues sharing a common French print origin.