5 Drachmai Half of 10 Drachmai

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.