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12.5 Drachmai Half of 25 Drachmai
| Issuer | National Bank of Greece |
|---|---|
| Year | 1922 |
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| Composition | Paper |
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|---|---|
| Obverse lettering | ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ ΔΡΑΧΜΑΙ ΕΙΚ... Εν Αθήναις ο Διοικητής |
| Reverse description | The reverse, forming the right half of the original 25 Drachmai note, is printed in blue-green on white paper and carries two circular guilloche vignettes: a large concentric-ring design at the left bearing the legend 'BANQUE NATIONALE / 25 / FRANCS / DE / GRECE', and a prominent starburst rosette at the right with the numeral '25' at its centre. The printer's imprint 'AMERICAN BANK NOTE COMPANY, NEW YORK.' appears in small letterpress text at the bottom centre. The overall design relies on lathe-work engine-turning with no pictorial imagery. |
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| Comments |
In early 1922, facing acute fiscal pressure and a shortage of small-denomination notes, the Greek government authorized a forced loan by decree: holders of 50 and 25 Drachmai notes were required to physically surrender them, have them cut in half, and deposit the severed portion in exchange for a credit against the loan. Each half was then countersigned and put back into circulation as an independent instrument at face value — in this case, 12.5 Drachmai.
The ABNC plate predates the crisis by some years; the halving scheme gave existing stock a second, involuntary life.