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50 Centimes

Issuer État du Grand-Duché de Luxembourg
Year 1919
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Value 50 Centimes (0.50 LUF)
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Obverse lettering Etat du Grand-Duche de Luxembourg Bon de Caisse Au Porteur Lei du 28 nov. 1914 - Arrete g. - d. du 11 dec.1918 50 Cinquante Centimes 50 Le Directeur General des Finances Ceux qui aurant contrefait ou falsife des Bons de caisse seront punis des travaux forces de 15 & 20 ans.
(Translation: State of the Grand Duchy of Luxembourg Cash Voucher To bearer Law of November 28, 1914 - General Decree from December 11, 1918 Fifty Cents The Director-General of Finances Those who have counterfeited or falsified Cash Vouchers will be punished with forced labor for 15 to 20 years.)
Reverse description Dark brown on red underprint, with the denomination value set against a field of geometric guilloche patterns. The inscription is presented entirely in German, citing the same authorizing law and grand-ducal decree as the obverse, giving the note its characteristic bilingual treasury issue character.
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Comments

Luxembourg's 1919 emergency fractional notes were authorized by the État du Grand-Duché in the immediate aftermath of German occupation, when coin metal was scarce and public confidence in currency had been badly shaken. The choice of Giesecke & Devrient in Leipzig is striking given the political circumstances — a newly liberated Grand Duchy contracting its paper money to a German printer within months of the armistice. Practical necessity overrode symbolism; G&D had the established relationship and the capacity.

Pick 26 is among the more elusive of the 1919 Luxembourg fractionals in circulated grades, as the small format made retention unlikely.

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