100 Lei

Romania's wartime circumstances in 1917 make this note's production story genuinely unusual. With much of the country under German occupation following the fall of Bucharest in December 1916, the Romanian government and its central bank had retreated to Iași. Printing domestically was out of the question, so the series was produced in Paris — Duval and Ruffe were both French, and the work almost certainly came out of the Imprimerie de la Banque de France or a closely affiliated atelier.

The timing matters: 12,175,000 notes printed during active military collapse and foreign occupation, for a government operating from a rump territory in Moldavia.