Catalog
200 Piastres
| Issuer | Banque Impériale Ottomane |
|---|---|
| Year | 1863 |
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| Reference(s) | P#55 |
| Obverse description | The tughra of the reigning sultan occupies an octagonal cartouche at the top centre, surmounting a large central oval with Arabic text inscriptions stating the denomination and issuing authority. Two circular medallions flank the central text block, the left bearing the Western numeral '200' and the right its Arabic-script equivalent, all set against an intricate guilloche underprint with ornate floral borders. Serial numbers appear at the upper left and right corners, a panel at lower left reads 'Remboursable à SMYRNE' indicating the branch of payment, and a large 'ANNULÉ' cancellation overprint is applied across the face. |
|---|---|
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| Reverse lettering | BANQUE IMPÉRIALE OTTOMANE | 200 |
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| Comments |
The Banque Impériale Ottomane was established in 1863 under a joint Anglo-French concession, replacing the short-lived Bank of Turkey, and this 200 Piastres note dates to that founding year — making it among the earliest issues of an institution that held the Ottoman government account and managed public debt for decades. The bank was not a state institution; it was a privately capitalized foreign enterprise granted the right of note issue, a distinction that generated persistent political friction throughout the Tanzimat period.
Surviving 1863-dated examples are extremely rare. The early series suffered heavy attrition through both redemption and the financial instability of the 1870s, when Ottoman state bankruptcy in 1875 severely disrupted the bank's operations.