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100 Francs

Issuer Caisse Hypothécaire du Canton de Fribourg
Year 1865-1891
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Currency Frank (1804-1846)
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Obverse description Unissued note with a wide left stub still attached, printed in dark olive-green and black on white paper. The central panel carries the issuer's name and denomination CENT FRANCS in bold letterpress type, surrounded by a fine guilloche border with the numeral 100 repeated on both lateral sides. Three signature lines for Le Caissier, Le Président du Conseil de Surveillance, and Le Directeur appear below the place and date line, with Série and Nº fields left blank, and the lower margin bears the Emission du inscription.
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Reverse description The reverse shows the obverse design printed in mirror image through the paper, a bleed-through impression of the central panel and guilloche border visible in reverse, consistent with an unissued note printed on a single side only. The right portion retains the attached stub with manuscript fields, similarly reversed. No independent reverse design is present.
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The Caisse Hypothécaire du Canton de Fribourg was a cantonal mortgage bank, not a commercial or central issuer — its notes were backed by real estate credit rather than specie or federal reserves. Swiss cantonal paper of this type circulated within tight regional boundaries, and the series ran across nearly three decades, a lifespan that ended not by failure but by federal consolidation following the 1891 establishment of the Schweizerische Nationalbank's predecessor framework.

Surviving examples from the early part of the issue range tend to show heavier wear from local commercial use; later dates are considerably scarcer, likely pulled from circulation quickly once federal pressure on cantonal issuers intensified.