100 Lei

This note was issued in the final, chaotic months of the Romanian monarchy. By December 1947, King Michael had been forced to abdicate and the People's Republic proclaimed — the currency reform that followed in January 1952 wiped out savings on a punishing conversion scale, effectively rendering all preceding banknotes worthless as financial instruments overnight.

P#65 is among the last issues carrying the old republican-transitional imagery before the communist state redesigned the entire series. Surviving circulated examples often show the creasing patterns typical of notes hoarded rather than spent — Romanians in this period frequently pulled cash out of banks in anticipation of exactly the kind of confiscatory reform that eventually came.