20 Francs 2nd series, type 2

The Swiss National Bank's early banknote program leaned heavily on Orell Füssli, the Zurich printer with roots stretching back to the sixteenth century and a long record in securities printing. The 2nd series was authorized before the First World War but delayed by wartime economic disruption; these 20-franc notes did not enter circulation until the early 1920s, by which point Switzerland had already weathered the inflationary pressures that had wrecked neighboring currencies.

Three distinct signature combinations are recorded for this type, reflecting staff changes at the SNB across its circulation period — Bachmann and Schnyder each held the relevant position in succession under the same Hirter/Bornhauser pairing.