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125 Francs
| Issuer | État du Grand-Duché de Luxembourg |
|---|---|
| Year | 1919 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | ÉTAT DU GRAND-DUCHÉ DE LUXEMBOURG BON DE CAISSE 125 au porteur Loi du 28 novembre 1914 - Arrêté g.-d. du 11 décembre 1918 CENT VINGT-CINQ FRANCS Le Directeur général des Finances Le Délégué du Gouvernement Ceux qui auront contrefait ou falsifié des Bons de caisse seront punis des travaux forcés de 15 à 20 ans. (Translation: State of the Grand Duchy of Luxembourg Cash Voucher to bearer Law of November 28, 1914 - Grand-Ducal Decree of December 11, 1918 One Hundred and Twenty-Five Francs The Director-General of Finances The Government Delegate Those who have counterfeited or falsified Cash Vouchers will be punished with forced labor for 15 to 20 years.) |
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| Reverse lettering | Grossherzoglich Luxemburgischer Staat Kassenschein 125 auf den Inhaber Gesetz vom 28. November 1914 - Grosshz. Beschluss vom 11. Dezember 1918 Hundert fünf und zwanzig Franken Die General-Staatskasse Die Kontrolle Wer Kassenscheine nachmacht oder verfälscht, wird mit Zwangsarbeit von 15 bis 20 Jahren bestraft. (Translation: State of the Grand Duchy of Luxembourg Cash Voucher 125 to bearer Law of November 28, 1914 - Grand-Ducal Decree of December 11, 1918 One Hundred and Twenty-Five Francs The General State Treasury The Controller Those who counterfeit or falsify Cash Vouchers will be punished with forced labor for 15 to 20 years.) |
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| Comments |
The 125-franc denomination is one of the more peculiar choices in European note history — a figure that reflects the post-WWI exchange rate peg Luxembourg applied when converting German marks still circulating in the country. The value was not arbitrary: 100 marks equaled 125 francs at the official conversion rate, so this note was essentially a redemption instrument dressed as ordinary currency, issued to absorb the occupying power's money from circulation.
The irony of Giesecke & Devrient printing it in Leipzig — a German firm, in Germany, for a note designed to erase German currency — was apparently not considered an obstacle.