20 Bolívares

The Banco Comercial de Maracaibo was one of a handful of regional Venezuelan banks that retained note-issuing privileges well into the twentieth century, long after most countries had consolidated such rights under a central authority. Venezuela's Banco Central wasn't established until 1940, which meant private regional banks continued producing their own circulating notes through the 1930s — this issue falls squarely in that final window.

ABNC produced the plates in New York, as they did for much of Latin America during this period. Maracaibo's commercial importance at the time derived almost entirely from the Lake Maracaibo oil boom of the 1920s, which had transformed the region from a modest trading port into one of the wealthiest urban centers in South America by the early 1930s.

The series was superseded when the Banco Central absorbed regional issuance rights shortly after its founding.