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25 Francs

Issuer Banque de Dépôt et d'Émission de Chaux-de-Fonds
Year 1848
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Size 180 × 120 mm
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Obverse description Typeset and engraved note printed in black on cream paper, with an intricate guilloche border framing the entire face. The bank title BANQUE de DÉPOT & d'ÉMISSION is set in bold display lettering at centre, below the place name CHAUX de FONDS, with the denomination BON pr. VINGT CINQ Francs enclosed within a dark oval guilloche vignette at centre. The four corners carry numeral counters reading 25, and two manuscript signatures appear at lower centre alongside printed signature labels in blue letterpress.
Obverse lettering 25 25 CHAUX de FONDS BANQUE de DÉPÔT & d'ÉMISSION autorisée par le Gouvernement provisoire Bon pr. VINGT CINQ Francs Le Contrefacteur sera puni. au porteur LE COMMISSAIRE DU GOUVERNEMENT PROVISOIRE PRÈS LA BANQUE Le Directeur 25 25
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The Banque de Dépôt et d'Émission de Chaux-de-Fonds was one of the cantonal and private note-issuing institutions that proliferated in Switzerland before federal banking consolidation. La Chaux-de-Fonds, deep in the Neuchâtel Jura, was then a watchmaking center rather than a financial capital — the bank's existence owed more to industrial credit needs than to any ambition in high finance. 1848 was a turbulent year across Europe, and Switzerland was not untouched: the new federal constitution adopted that year would, over the following decades, lay the groundwork for the note-issue reforms that eventually extinguished institutions like this one.

Survivors are rare. The Swiss cantonal note-issuing period ended abruptly enough that most provincial paper was redeemed and pulped rather than preserved.