5 Francs

Luxembourg's 1918 5 Francs note occupies a peculiar position: it was issued by a government whose territory was under German military occupation, yet printed by Giesecke & Devrient in Leipzig. The Grand Duchy had retained its own civil administration under occupation, and the continued issuance of state notes was part of that administrative fiction — Luxembourg francs circulating alongside German marks in the same economy.

G&D's involvement was entirely a function of wartime geography. Leipzig was accessible; Paris was not.