1000 Drachmai cut note

The 1926 Greek 1000 Drachmai (Pick 83) is a cut note — meaning it was issued as one half of a larger denomination note, physically bisected as an emergency measure to create smaller-value currency from existing stock. Greece was in the middle of severe monetary instability during this period, with the drachma under sustained pressure following the catastrophic population exchange with Turkey after 1922, which flooded Greece with over a million refugees and strained public finances to breaking point.

The National Bank of Greece had the legal authority to issue currency at this time, before the Bank of Greece was established in 1928 and took over that function.