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100 Francs Without 'RÉPUBLIQUE FRANÇAISE' overprint

Issuer Institut d'Émission d'Outre-Mer
Year 1969
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Value 100 Francs (100 XPF)
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Obverse lettering 100 INSTITUT D`ÉMISSION D`OUTRE-MER LE DIRECTEUR GÉNÉRAL LE PRÉSIDENT DU CONSEIL DE SURVEILLANCE CENT FRANCS
(Translation: Overseas Emission Institute The Director General The President of the Supervisory Council One Hundred Francs)
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Reverse lettering 100 INSTITUT D`ÉMISSION D`OUTRE-MER NOUMÉA L`ARTICLE 139 DU CODE PÉNAL PUNIT DE LA RÉCLUSION CRIMINELLE À PERPÉTUITÉ CEUX QUI AURONT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUE AUTORISÉS PAR LA LOI.
(Translation: Overseas Emission Institute NOUMÉA ARTICLE 139 OF THE PENAL CODE PUNISHES WITH LIFE IMPRISONMENT THOSE WHO COUNTERFEIT OR FALSIFY BANK NOTES AUTHORISED BY LAW.)
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Comments

The Institut d'Émission d'Outre-Mer was established in 1966 to handle currency for French overseas territories after the dissolution of the Caisse Centrale de la France d'Outre-Mer's note-issuing functions. This particular type — without the 'RÉPUBLIQUE FRANÇAISE' overprint — represents the cleaner, unencumbered plate state, distinct from overprinted versions in the series where the republican designation was added to satisfy specific territorial requirements or political sensitivities at the point of issue.

Banque de France intaglio production for overseas territories in this period was meticulous, and P#59 is scarcer than its overprinted counterpart precisely because fewer territories required the plain version.

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