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| Issuer | National Bank of Greece |
|---|---|
| Year | 1922 |
| Type | Log in to see details |
| Value | 100 Drachmai |
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| Composition | Log in to see details |
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| Obverse description | At left, a portrait vignette of Georgios Stavros, founder of the National Bank of Greece, anchors the composition; the central field is occupied by allegorical female figures rendered in fine intaglio engraving. The national coat of arms appears at right, bearing the overprint 'ΝΕΟΝ' in Greek characters. |
|---|---|
| Obverse lettering | Log in to see details |
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| Reverse lettering | ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ ΕΚΔΟΣΙΣ ΕΝΔΕΚΑΤΗ ΔΡΑΧΜΑΙ ΕΚΑΤΟΝ |
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| Comments |
This note belongs to a peculiar episode in Greek fiscal history. In 1922, the government of Dimitrios Gounaris — facing acute revenue shortages worsened by the ongoing Asia Minor campaign — ordered all holders of existing banknotes to physically surrender them, whereupon each note was cut in half. The left half was returned as circulating currency at half its face value; the right half was compulsorily converted into a forced state loan. Greece effectively halved its circulating money supply overnight without printing a single new note.
Bradbury Wilkinson had printed the original series years earlier. The bisection scheme meant their work was literally scissored apart by the state.