20 Bolívares

The Banco de Venezuela was a private commercial institution operating under government concession during this period — not a central bank. Venezuela would not establish the Banco Central until 1940, so notes like this one circulated under a system where private banks retained the right of issue, subject to periodic government renewal of their charters.

The American Bank Note Company's work for Venezuelan issuers in the 1920s was executed from their New York facilities, with intaglio printing typical of their export contracts. The P#301 series is not especially rare, but earlier dates within it are considerably harder to find than examples from the later 1920s.