Greece's postwar monetary situation was severe enough that a 1944 redenomination replaced 50 billion old drachmai with a single new one, and inflationary pressure continued through the early 1950s. By 1956, when this note was issued, the Bank of Greece had established its own domestic printing facility at Holargos — a deliberate move away from foreign presses that had produced most Greek currency up to that point.
Pick 194 is one of the earlier high-value notes produced entirely in-house. Designer Alexandros Koroyiannakis was on staff at the Holargos facility, making this a fully domestic production from conception through printing.
Greece's postwar monetary situation was severe enough that a 1944 redenomination replaced 50 billion old drachmai with a single new one, and inflationary pressure continued through the early 1950s. By 1956, when this note was issued, the Bank of Greece had established its own domestic printing facility at Holargos — a deliberate move away from foreign presses that had produced most Greek currency up to that point.
Pick 194 is one of the earlier high-value notes produced entirely in-house. Designer Alexandros Koroyiannakis was on staff at the Holargos facility, making this a fully domestic production from conception through printing.