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2 Nouveaux Francs / New Francs Overprint on P#26 - 100 Francs

Issuer Caisse Centrale de la France d'Outre-Mer
Year 1961-1964
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Value 2 New Francs (2 FRF)
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Obverse lettering CAISSE CENTRALE DE LA FRANCE D'OUTRE-MER SAINT-PIERRE ET MIQUELON CENT FRANCS CONTRE-VALEUR DE 2 NOUVEAUX FRANCS SAINT-PIERRE ET MIQUELON W. FEL. FEC. R. ARMANELLI SC.
(Translation: Central Fund of Overseas France, One Hundred Francs, Counter-value of 2 New Francs, Saint-Pierre and Miquelon)
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Reverse lettering CENT CAISSE CENTRALE DE LA FRANCE D'OUTRE-MER 100 FRANCS SAINT-PIERRE-ET-MIQUELON L'ARTICLE 139 DU CODE PÉNAL PUNIT DES TRAVAUX FORCÉS CEUX QUI AURONT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUE AUTORISÉS PAR LA LOI SAINT-PIERRE-ET-MIQUELON W. FEL FEC. G. REGNIER SC.
(Translation: One Hundred Francs, Central Fund of Overseas France, Saint-Pierre and Miquelon, Article 139 of the Penal Code punishes with forced labour those who have counterfeited or falsified banknotes authorised by law)
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Comments

The "nouveaux francs" redenomination of January 1960 — where 100 old francs became 1 new franc — created an administrative headache for the Caisse Centrale, which still held stocks of unissued 100-franc notes. Rather than commission entirely new plates, the solution was a straightforward overprint converting face value to 2 nouveaux francs, extending the useful life of an existing Banque de France printing by several years.

Fel designed the underlying note before the redenomination was even contemplated, and Armanelli's engraving work on the obverse was done for a different monetary world entirely.

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