The first banknotes were issued by the Central Bank of Guatemala in denominations of 1, 2, 5, 10, 20 and 100 quetzales, with quetzal notes added in 1933. In 1946, the Bank of Guatemala took over the issuance of paper money, with the first issues being overprints on notes of the Central Bank. Except for the introduction of 50 quetzal notes in 1967, the denominations of banknotes remained unchanged until and 1 quetzal coins replaced notes at the end of the 1990s.