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| 正面铭文 | 登录 以查看详情 |
| 背面描述 | Purple on multicolour underprint. A pastoral vignette at centre portrays a herd of cattle grazing in an open field with mountains and trees in the background. Large numeral 20 appears in each corner within elaborate guilloche cartouches, and the denomination tablet is set within an ornamental panel at the foot of the design, with the printer's imprint below. |
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| 签名 | 登录 以查看详情 |
| 防伪类型 | Watermark |
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| 备注 |
Waterlow & Sons held the Honduran printing contract through this period, producing a series that predates the more familiar ABNC-printed issues that would follow later in the decade. The Banco Central de Honduras had only been established in 1950, replacing the earlier Banco Central de Honduras y Emisión, so notes of this P#48 series belong to the very first years of the reconstituted central bank's operation — a short window before new security specifications prompted a redesign.
Watermark authentication was the primary security measure, modest even by early 1950s standards. Waterlow itself ceased operations in 1961 following a prolonged decline after the Gustavus Bogle forgery scandal of 1956.