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20 Drachmai

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正面铭文	20 Α.10- 512 410 ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ Αʹ ΔΡΑΧΜΑΙ ΕΙΚΟΣΙ Πληρωτέαι ἐπί τῇ ἐμφανίσει ΕΝ ΑΘΗΝΑΙΣ ΤΗΙ 15η ΙΑΝΟΥΑΡΙΟΥ 1954 ΟΙ ΔΙΕΥΘΥΝΤΑΙ Ο ΔΙΟΙΚΗΤΗΣ ΝΕΑ ΕΚΔΟΣΙΣ Α.10- 512 410 20
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背面铭文	ΕΚΔΟΣΙΣ ΠΡΩΤΗ ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ 20 ΔΡΑΧΜΑΙ ΕΙΚΟΣΙ 20 20 ΙΔΡΥΜΑ ΤΡΑΠΕΖΗΣ ΕΛΛΑΔΟΣ
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备注	Greece's decision to establish its own banknote printing facility at Holargos — operational by the early 1950s — was a deliberate move away from foreign printers like De La Rue and the American Bank Note Company, both of which had handled Greek issues for decades. This 1954 note belongs to that first wave of domestically produced currency, and the Holargos facility was still finding its footing in terms of intaglio consistency during this period. The watermark is the sole security feature — modest even by 1954 standards, reflecting the low face value and correspondingly brief expected circulation life of small-denomination notes in postwar Greece, where inflation from the 1940s had badly eroded public confidence in paper.