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100 Lei

Issuer Banca Națională a României
Year 1929
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In circulation to 1947
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Reverse description The reverse is dominated by a dense interlocking guilloche underprint centered on the Romanian royal coat of arms surmounted by a crown, flanked by two ribbon cartouches each bearing the numeral "100". Four large blank oval medallions occupy the corners within a continuous ornamental border of interlaced foliate motifs. The inscriptions "ROMANIA" appear in rectangular cartouches at the mid-left and mid-right, and a block of anti-counterfeiting legal text is set in small type along the lower center.
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Protection description Heads of Trajan and Minerva
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Comments

Romania's interwar period produced some of the most technically ambitious domestic printing the country had attempted — the Banca Națională had established its own printing works in Bucharest precisely to reduce dependence on foreign contractors after the disruptions of the First World War. This note, with engraving credited to Léon Henri Ruffe and design to Georges Duval, reflects the French technical influence that shaped the facility's early output; both men were associated with the Paris school of intaglio engraving, their involvement here likely tied to the transfer of skills and plate techniques rather than foreign production.

The 1929 issue came during a period of relative monetary stabilization following Romania's 1929 currency reform, which fixed the leu to gold at a dramatically reduced rate from its pre-war parity — a formal acknowledgment of wartime and postwar inflation that had gutted the currency's value.

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