20 Quetzales

Guatemala's 1926 gold coinage was issued under the monetary reforms tied to the establishment of the quetzal as the national currency, replacing the peso at par following the 1924–1925 currency overhaul pushed through by the Orellana government. The 20 quetzales was the highest denomination struck in gold and saw extremely limited production — the series was never intended for circulation but rather to anchor the new currency's credibility against a gold standard that Guatemala was already struggling to maintain.

Surviving examples are rarely encountered outside major auction houses. Fr#48 confirms the type across standard gold coin references, but actual mintage figures remain poorly documented in Guatemalan treasury records from the period.