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125 Francs / 100 Marks

Issuer État du Grand-Duché de Luxembourg
Year 1914
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Value 125 Francs (125 LUF)
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Obverse description Printed in lilac over a red and green guilloche underprint, the obverse bears the national coat of arms as a central background vignette, anchoring the overall composition. A circular red seal is positioned at the lower left, accompanied by the bilingual denomination and statutory inscriptions in letterpress. The layout reflects the emergency issue character of the note, with text-dominant design typical of wartime Bons de Caisse.
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Protection description Portrait watermark of Grand Duke William IV
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Germany occupied Luxembourg on August 2, 1914 — the first full day of its war mobilization. This dual-denomination note, expressed in both French francs and German marks at the fixed rate of 1.25:1, was issued under that occupation and reflects the immediate administrative imposition of the German monetary system onto a country whose franc had been tied to the Latin Monetary Union. Giesecke & Devrient in Leipzig printed it, which required no logistical complexity given who was in charge.

The bilingual denomination is the telling detail. Luxembourg's franc didn't disappear; it was subordinated — priced against the mark in the typography itself.