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10 Drachmai
| Issuer | Kingdom of Greece |
|---|---|
| Year | 1944 |
| Type | Standard circulation banknote |
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| Obverse description | Brown intaglio print on orange and turquoise underprint. A standing farmer vignette appears at left and a standing worker vignette at right, flanking the central denomination numeral. The note bears the royal title inscription across the top and carries a dated payment clause referencing Athens, 9 November 1944, along with the facsimile signature of the Minister of Finance. |
|---|---|
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| Reverse lettering | ΒΑΣΙΛΕΙΟΝ ΤΗΣ ΕΛΛΑΔΟΣ 10 ΣΙΦΝΟΣ ΔΡΑΧΜΑΙ ΔΕΚΑ (Translation: Kingdom of Greece 10 Sifnos Ten drachmai) |
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| Comments |
Greece in 1944 was under joint Axis occupation, and what remained of the country's monetary administration was operating under conditions of catastrophic hyperinflation. By October of that year, the drachma had depreciated so severely that the occupying authorities and the collaborationist government had flooded the economy with successive high-denomination issues just to keep transactions functional. A 10-drachmai note by this point had essentially no purchasing power.
Upon liberation, the incoming Greek government issued the Emergency Law of November 1944, redenominating at 50 billion old drachmai to one new drachma. Notes of this series were rendered worthless overnight.