20 Francs

The Banque de l'Algérie's 20 Francs ran across an exceptionally long signature span — from the quiet interwar years through the collapse of France in 1940 and into the Vichy period, when Algeria remained under nominal French authority but the bank's administrative personnel shifted accordingly. The Penalva & Moyse pairing alone covers over twelve years of continuous issue, which is unusual longevity for a colonial bank's senior signatories.

Romagnoli's engraving work is precise even at this scale. The earliest Biron & Moyse examples from 1914–1921 are not listed in standard catalogs, making confirmed dated specimens from that window genuinely difficult to attribute with confidence.