150 grammes de pain - Ville de Gand

This is not a banknote in any conventional sense — it is a bread ration coupon issued by the municipal government of Ghent, almost certainly during the German occupation of Belgium in the First World War. Ghent was under German military administration from late 1914, and the civilian population depended heavily on organized food distribution schemes, partly coordinated through the American-led Commission for Relief in Belgium. Municipal bread tokens of this type were the administrative machinery behind that system at street level.

Buyck Frères was a Ghent commercial printer, which confirms local production under occupation conditions.