25 Centimes - Chambre de Commerce de Nancy 54

The Chambre de Commerce de Nancy issued emergency small-denomination notes during the First World War to compensate for the near-total disappearance of coin from circulation — hoarding and metal requisitioning had stripped the French economy of small change by 1914–1915. Nancy, sitting close to the front lines in Lorraine, felt the disruption acutely, and local commercial chambers were legally authorized under wartime decree to fill the gap. Berger-Levrault, the long-established printing and publishing house based in Nancy itself, produced the series — a local solution printed locally.

The JP reference range covering multiple catalog numbers reflects the several date variants issued across the war years rather than distinct design changes.