100 Francs

The Société Générale de Belgique was not a central bank — it was a private financial institution pressed into a quasi-official role after the Banque Nationale de Belgique suspended normal operations under German occupation. These notes circulated because there was simply nothing else available in much of occupied Belgium, a stopgap that persisted across the entire war period.

Pick 90 is among the more frequently encountered of the occupation-era Belgian emergency issues, though condition varies sharply — heavy circulation in wartime conditions left most examples with significant wear.