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10 Quetzales Banco Central de Guatemala, 1st. print
| Issuer | Banco Central de Guatemala |
|---|---|
| Year | 1929-1935 |
| Type | Standard circulation banknote |
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| Obverse description | Dark-red intaglio print on yellow and green guilloche underprint. A portrait vignette of General José María Orellana occupies the left portion of the note, with a vignette of the quetzal bird at right. The overall design is framed by intricate lathe-work borders typical of Waterlow & Sons production of the period. |
|---|---|
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| Reverse lettering | BANCO CENTRAL DE GUATEMALA DIEZ DIEZ DIEZ QUETZALES 10 10 (Translation: Central Bank of Guatemala Ten Ten Ten Quetzals 10 10) |
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| Comments |
The Banco Central de Guatemala was established in 1926 as part of a broader monetary reform pushed through under the Chacón administration, replacing a chaotic multi-bank note-issuing system that had persisted for decades. This note belongs to the central bank's earliest printed series, with Waterlow & Sons handling production in London — a common arrangement for newly consolidated Latin American central banks in the late 1920s that lacked domestic printing infrastructure capable of meeting security standards.
The quetzal itself had only been introduced in 1925, replacing the peso at par with the US dollar under the gold exchange standard. That peg would prove untenable once the Depression hit, and Guatemala suspended convertibility in 1933 — meaning later examples from this 1929–1935 run circulated under fundamentally different monetary conditions than the earliest issues.