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25 Centimes Monaco brun

Issuer Principauté de Monaco
Year 1920
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Printer Veuve A. Chêne, Monaco, Monaco
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Obverse lettering PRINCIPAUTÉ DE MONACO Délibération du 16 mars 1920 Décision souveraine du 20 mars 1920 VINGT-CINQ CENTIMES 25 Le Ministre d'Etat R. le Bourdon Le Trésorier Général des Finances A.Noghès A PRÉSENTER AU REMBOURSEMENT A LA TRESORERIE GENERALE DES FINANCES AVANT LE 31 DÉCEMBRE 1922
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Signature(s) R. le Bourdon and A. Noghès
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Comments

Monaco issued its own small-denomination paper money in 1920 to address the acute coin shortage that plagued much of Europe in the immediate aftermath of the First World War. These notes were a local municipal-style stopgap — printed entirely within the Principality by a small commercial press rather than a specialist security printer. The Veuve A. Chêne imprint is about as modest as it gets for a sovereign issuer.

Albert Berthe's engraving credit on a note of this size and denomination is the detail worth pausing on. The watermark is the only meaningful anti-counterfeiting measure on a piece that circulated among a population of fewer than 25,000.

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