The 1987 Venezuela 20 Bolívares banknote to commemorate the 200th anniversary of the birth of General Rafael Urdaneta

The 1987 Venezuela 20 Bolívares banknote was issued by the Banco Central de Venezuela to commemorate the 200th anniversary of the birth of General Rafael Urdaneta (1788-1988). Urdaneta was a Venezuelan military and political leader who played a crucial role in Venezuela’s independence movement and was one of Simón Bolívar’s most trusted generals.

This commemorative issue maintains the same denomination as the standard circulating 20 Bolívares notes but includes unique artistic and historical elements to celebrate Urdaneta’s legacy. The note’s reverse side (back) highlights a significant event from Venezuela’s military history—the Battle of Lake Maracaibo (1823), a decisive naval battle that helped secure Venezuela’s independence from Spain.

As an important part of Venezuelan numismatic history, this note is popular among collectors due to its historical significance and aesthetic appeal.

---

Design Elements

Obverse (Front Side)

The front of the note features a portrait of General Rafael Urdaneta, depicted in military uniform with decorative medals on his chest, symbolizing his achievements and contributions to Venezuela’s fight for independence.

Key features on the obverse:

• The denomination “20” is displayed in all four corners.
• The inscription “Banco Central de Venezuela” appears at the top.
• The note’s serial number is printed twice—once on the top left and again on the top right.
• Below Urdaneta’s portrait, his name is printed: “General Rafael Urdaneta.”
• The text “VEINTE BOLÍVARES” (Twenty Bolívares) is prominently placed in the center.
• The issuing date “OCTUBRE 1987” is printed in red ink.
• The signatures of the President and other officials of the Banco Central de Venezuela authenticate the note.

Reverse (Back Side)

The back of the note illustrates a detailed battle scene from the Battle of Lake Maracaibo (July 24, 1823), which was a turning point in Venezuela’s struggle for independence. The artwork depicts multiple warships engaging in combat, representing the naval forces that fought during this crucial conflict.

Key features on the reverse:

• The denomination “20” is printed in all four corners.
• The words “Banco Central de Venezuela” are displayed at the top.
• The text “VEINTE BOLÍVARES” is centered at the bottom.
• To the right of the battle scene, Venezuela’s national coat of arms is prominently placed.

This powerful image reflects Venezuela’s military strength and determination in securing its sovereignty.

---

Color Scheme and Dimensions

• Primary Colors: The note features a combination of green, brown, black, and light pink tones.
• Obverse (Front): The portrait of Urdaneta is surrounded by intricate green and brown patterns, while the background has fine pink security lines.
• Reverse (Back): The battle scene is printed in monochrome brown and black, contrasting with the green border decorations.
• Dimensions: The note measures approximately 156 mm in length and 69 mm in width, a standard size for Venezuelan banknotes of that era.

---

Security Features

The 1987 20 Bolívares note incorporates several security elements to prevent counterfeiting:

1. Watermark

   • A watermark of General Urdaneta is embedded in the paper, visible when held against the light.

2. Microprinting

   • Fine microtext patterns are included in the background, making it difficult to replicate without specialized printing technology.

3. Intaglio Printing

   • Certain parts of the design, including Urdaneta’s portrait and the denomination numerals, have raised ink printing, which can be felt by touch.

4. Latent Image

   • A hidden numerical feature appears when viewed at an angle.

5. Serial Number Features

   • Each note carries a unique serial number printed twice, with distinct font variations that are difficult to reproduce.

6. Color Variations and Patterns

   • The banknote uses complex geometric designs that blend into the artwork, acting as an anti-counterfeit measure.

---

Circulation and Collectibility

• Was this banknote widely circulated?
  Yes, the 1987 20 Bolívares note was issued for general circulation, meaning it was used in everyday transactions. However, since it was a commemorative issue, many of these notes were preserved by collectors rather than being heavily worn out in circulation.

• Is this note rare?
  In well-preserved uncirculated (UNC) or mint condition, this note is considered somewhat rare due to its historical significance. However, circulated notes are more common.

• How does it compare to other Venezuelan banknotes?
  This note holds greater historical value than standard Bolívares notes because it commemorates General Urdaneta and features the Battle of Lake Maracaibo, making it highly desirable for collectors of Venezuelan currency.

---

Predicting Future Value

• Current Market Value:
  As of now, the value of this banknote depends on its condition. In uncirculated condition, it can fetch anywhere between $15 to $40 USD from collectors or on online auction sites. Well-worn circulated versions have a lower value.

• Future Potential:
  Given the increasing interest in Venezuelan historical banknotes, this note’s value is expected to rise, particularly if Venezuela’s numismatic market continues to grow.

  Factors that may increase its value:

  • Rarity: If fewer uncirculated notes remain in the market, prices will increase.
  • Historical significance: Commemorative issues tend to gain value over time.
  • Demand from collectors: Global interest in South American currency is rising, making this note a potential long-term investment.

  Potential Challenges:

  • Venezuela’s hyperinflation and redenominations have led to drastic changes in its currency system, which may impact collector interest.
  • Mass production: If many of these notes exist in good condition, the price may not increase significantly.