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2 Francs - Chambre de Commerce de Montluçon-Gannat 03
| Issuer | Chambre de Commerce de Montluçon-Gannat |
|---|---|
| Year | 1921 |
| Type | Local banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse lettering | 2 fr CHAMBRE DE COMMERCE DE MONTLUÇON-GANNAT |
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| Protection type | Log in to see details |
| Protection description | Watermarked paper used as the primary security feature. |
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| Comments |
French chambers of commerce became emergency issuers of small-denomination notes during and after the First World War, filling a vacuum left by the hoarding of coins and the Banque de France's inability to meet demand for fractional currency. The Chambre de Commerce de Montluçon-Gannat was one of dozens that continued issuing well into the early 1920s, long after the wartime rationale had faded — a sign of how slowly the small-change shortage resolved.
Printed locally by Herbin & Bouché, this is a purely regional production with no involvement from the major Parisian security printers. The watermarked paper is the sole security measure, modest even by the standards of the series.