20 Francs German Occupation - WWII

When Germany occupied Luxembourg in May 1940, the existing banknote stock became an immediate administrative problem. This issue was printed by Enschedé in Haarlem before the invasion, as part of a pre-war contract, which means the plates and paper were already prepared under the Grand Duchy's legitimate authority — not under German direction.

The occupation authorities permitted continued circulation of Luxembourg franc-denominated notes rather than immediately imposing Reichsmark instruments, partly to manage civilian unrest. Luxembourg was formally annexed into the Reich in August 1942, at which point Reichsmark parity was enforced and existing franc notes were progressively withdrawn.

Enschedé's involvement is notable — the same Haarlem firm was simultaneously under German pressure regarding Netherlands currency production, making the geopolitical position of the printer in 1940 genuinely complicated.