2 Francs / 1 Mark 60 Pfennig

Luxembourg's occupation by German forces in August 1914 created an immediate practical problem: Belgian francs, which had circulated freely in the duchy alongside local currency, began disappearing as the war disrupted cross-border commerce. This note was issued by the Grand Ducal state — not by a bank — to address the resulting small-change shortage, with the dual denomination reflecting the fixed parity between the franc and the mark that had held since the Latin Monetary Union arrangements of the preceding decades.

The irony of Giesecke & Devrient in Leipzig printing emergency currency for an occupied nation is unremarkable by wartime standards, but worth noting: the occupying power's own printer supplied the paper that kept Luxembourg's markets functioning.