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20 Bolivianos / 2 Bolivares

Issuer Banco Central de Bolivia
Year 1928
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Size 159 × 80 mm
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Reverse description The Bolivian national coat of arms occupies the centre within an elaborate circular guilloche surround printed in green tones. Large denomination numerals '20' are contained within ornate lathe-work panels at left and right. The legend 'BANCO CENTRAL DE BOLIVIA' frames the design above, while 'VEINTE BOLIVIANOS DOS BOLIVARES' appears below the central motif.
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Signature(s) series A-C - Granier, Vallejos, Palacios
series D-J - Granier, Quijarro, Palacios
series K-N - Granier, Quijarro, Morris
series N-V - Granier, Pacheco, Morris
series W - Rodo, Pacheco, Morris
series X-Z, A1-L1 - Rodo, Céspedes, Morris
series L1-Z1 - Arce, Céspedes, Morris
series N1-Z1 - Arce, Céspedes, Cuenca
series A2-Z2, A3-Z3 - Arce, Prudencio, Cuenca
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Comments

Bolivia's 1928 monetary reform abolished the Boliviano and introduced the Bolivar at a rate of one Bolivar to one hundred old Bolivianos — which is why this note carries both denominations simultaneously, bridging the transitional period for public comprehension. The Banco Central de Bolivia itself had only been established in 1928 under legislation drafted partly with advice from the Kemmerer Mission, the American financial advisory group that restructured central banking across much of South America during the 1920s.

The sheer number of signature combinations across series A through Z3 reflects a print run that stretched well into the 1930s, outlasting several changes in bank administration. At least nine distinct signatories cycled through the three signature positions — a useful dating proxy when the series letter is legible.

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