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20 Francs - Baudouin I

Issuer Belgian Treasury (Trésorerie de Belgique)
Year 1964
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Printer Imprimerie de la Banque Nationale de Belgique, Brussels
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Obverse description Intaglio portrait of King Baudouin I, fifth King of the Belgians (reigned 1951–1993), rendered in three-quarter view at center-right against a guilloche underprint. The bilingual title "ROYAUME DE BELGIQUE / KONINKRIJK BELGIE" and "TRESORERIE / THESAURIE" frame the vignette, with the denomination "VINGT FRANCS / TWINTIG FRANK" inscribed below. The engraver's and designer's credits — "H. DE CUYPER SC. L. DE DECKER DEL" — appear in the lower margin.
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Reverse description Central vignette of the Atomium, the iconic steel structure erected for the 1958 Brussels World's Fair and now a landmark of the Belgian capital, set against a fine guilloche background. The denomination and issuing authority are repeated in Dutch in the surrounding text panels. Anti-counterfeiting text is carried in the lower margin.
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Comments

The Belgian Treasury, rather than the National Bank, issued this note — an arrangement that persisted for small denominations because the National Bank held no mandate to circulate notes below 50 francs. The Treasury series effectively functioned as the state's answer to coin shortages, filling a gap the banking system was not structured to fill.

De Cuyper's engraving work was done in-house at the Banque Nationale's own printing facility — an unusual convergence of a Treasury obligation produced entirely within a central bank's infrastructure.

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