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200 Quetzales

Issuer Banco de Guatemala
Year 2020
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Printer Giesecke+Devrient (Giesecke & Devrient), Leipzig, Germany (1852-date)
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Reverse lettering Microlettering: BANCO DE GUATEMALA BANCO DE GUATEMALA REPÚBLICA DE GUATEMALA DOSCIENTOS QUETZALES Microlettering: LIBRE AL VIENTO, TU HERMOSA BANDERA
(Translation: Microlettering: Bank of Guatemala Bank of Guatemala Republic of Guatemala Two-Hundred Quetzales Microlettering: Free into the wind, your beautiful flag)
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Protection type Watermark
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Comments

Guatemala's 200 quetzal denomination has existed since the 1970s but remained relatively uncommon in everyday transactions — the value sits high enough that most circulation wear concentrates on lower denominations. The P#W127 issue is part of a broader modernization push by the Banco de Guatemala that retained G+D as printer, a relationship stretching back decades in the region.

The "W" prefix in the Pick reference signals a polymer-family catalog entry, though this note is cotton paper — an inconsistency in the Pick numbering system that occasionally confuses attribution.