100 francs - Principauté de Monaco

Monaco hasn't issued its own paper currency since the franc-era notes of the mid-twentieth century — the principality moved to the euro alongside France in 2002. This piece is a fantasy or specimen production by Matej Gabris, a Slovak designer known for creating elaborate uninstructed banknote designs for territories that either use another currency or have no paper issue at all. The "Principauté de Monaco" framing gives it an air of official plausibility, but no such note was ever authorized, tendered, or circulated.

The watermark security feature is a nod to convention, not function.