1 Franc

Monaco issued its own small-denomination paper money during and immediately after World War One because the disruption to French coin supply left the Principality — which normally relied on French coinage — without adequate small change. This 1 Franc note was part of that emergency emission, printed entirely within Monaco by the local press of Veuve A. Chêne rather than contracted to any major European security printer.

Engraver Albert Berthe's credit on a locally produced note is worth noting — the quality of intaglio work achievable by a small Monégasque firm was necessarily limited, and these notes show it. The watermark is the primary security feature, modest by the standards of contemporary French issues.

Three signature combinations are documented under JP#136- 06/07/08, all pairing R. le Bourdon with A. Noghès.