Catalog
5 Drachmai Half of 10 Drachmai
| Issuer | National Bank of Greece |
|---|---|
| Year | 1922 |
| Type | Standard circulation banknote |
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| Obverse lettering | ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ ΔΡΑΧΜΑΙ ΠΛΗΡΩΤΕΑΙ ΕΠΙ ΤΗ ΕΜΦΑΝΙΣΕΙ ΕΝ ΑΘΗΝΑΙΣ Ο ΤΑΜΙΑΣ Ο ΔΙΟΙΚΗΤΗΣ ΑΠΑΓΟΡΕΥΕΤΑΙ ΝΑ ΚΥΚΛΟΦΟΡΗ ΝΟΜΟΣ |
| Reverse description | The reverse, printed in deep blue intaglio, shows the right half of the original 10 Drachmai reverse design. A large ornate central panel contains the numeral '10' within an elaborate guilloche framework bordered by floral and geometric motifs, with the word 'FRANCS' in a recessed cartouche below. At left, a partial allegorical vignette within a circular guilloche border is visible, and the curved legend 'NATIONALE DE GRECE' runs along the upper arc. The imprint 'GRAVÉ ET IMPRIMÉ PAR DIRECT…' appears at lower centre. |
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| Comments |
In February 1922, facing a severe shortage of small-denomination currency driven by the costs of the ongoing Greco-Turkish War, the Greek government authorized a compulsory bisection of all 10 Drachmai notes then in circulation. Holders were required to physically cut their notes in half along a pre-designated line; one half retained legal tender status at 5 Drachmai, while the other half was exchangeable for a new 5 Drachmai bond — effectively a forced short-term loan to the state.
Bradbury, Wilkinson had printed the original 10 Drachmai notes in London years earlier with no expectation of this use. The bisected halves circulated as-is, with no overprint or official validation stamp required.