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20 Francs 2nd series, type 3
| Issuer | Swiss National Bank |
|---|---|
| Year | 1923-1929 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
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| In circulation to | 1 January 1956 |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is executed in steel-blue and warm ochre tones, dominated by a large central oval guilloche containing the bold numeral «20» in intaglio, encircled by a continuous inscription band carrying the bank's name in three languages. The four corners each bear a square panel with the denomination numeral «20», and the entire face is covered with intricate lathe-work guilloche patterns and foliate ornamental borders, with the Swiss cross device set within an oval cartouche at the top centre. |
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| Variants | P#33a(1) - 01.05.1923 signatures: Usteri / Bachmann / Bornhauser P#33a(2) - 01.05.1923 signatures: Usteri / Schnyder / Bornhauser P#33a(3) - 01.05.1923 signatures: Usteri / Burckhardt / Bornhauser P#33b(1) - 01.07.1926 signatures: Usteri / Bachmann / Bornhauser P#33b(2) - 01.07.1926 signatures: Usteri / Schnyder / Bornhauser P#33b(3) - 01.07.1926 signatures: Usteri / Weber / Bornhauser P#33c(1) - 21.10.1926 signatures: Usteri / Bachmann / Bornhauser P#33c(2) - 21.10.1926 signatures: Usteri / Schnyder / Bornhauser P#33c(3) - 21.10.1926 signatures: Usteri / Weber / Bornhauser P#33d(1) - 24.03.1927 signatures: Sarasin / Bachmann / Bornhauser P#33d(2) - 24.03.1927 signatures: Sarasin / Schnyder / Bornhauser P#33d(3) - 24.03.1927 signatures: Sarasin / Weber / Bornhauser P#33e(1) - 29.09.1927 signatures: Sarasin / Bachmann / Bornhauser P#33e(2) - 29.09.1927 signatures: Sarasin / Schnyder / Bornhauser P#33e(3) - 29.09.1927 signatures: Sarasin / Weber / Bornhauser P#33f(1) - 01.11.1928 signatures: Sarasin / Bachmann / Bornhauser P#33f(2) - 01.11.1928 signatures: Sarasin / Schnyder / Bornhauser P#33f(3) - 01.11.1928 signatures: Sarasin / Weber / Bornhauser P#33g(1) - 19.02.1929 signatures: Sarasin / Bachmann / Bornhauser P#33g(2) - 19.02.1929 signatures: Sarasin / Schnyder / Bornhauser P#33g(3) - 19.02.1929 signatures: Sarasin / Weber / Bornhauser P#33h(1) - 18.04.1929 signatures: Sarasin / Bachmann / Bornhauser P#33h(2) - 18.04.1929 signatures: Sarasin / Schnyder / Bornhauser P#33h(3) - 18.04.1929 signatures: Sarasin / Weber / Bornhauser |
| Comments |
The Swiss National Bank's early note issues required three signatures — one from the Bank Council presidency, one from the Directorate, and one from the local board — a tripartite structure reflecting the SNB's decentralized founding compromise between Zurich and Bern factions. The sheer number of signature combinations on this type is a direct consequence: as personnel rotated across those three seats between 1923 and 1929, each new combination produced a catalogued variant, making signature collecting a discipline unto itself for this series.
Orell Füssli had been printing securities and maps since the sixteenth century, and the SNB relied on them exclusively for early note production. The series was demonetized well before World War II, and surviving examples — particularly the later 1929-dated issues — are considerably scarcer than their earlier counterparts.