50 Centimes - Chamber of Commerce of Annecy

French Chambers of Commerce were authorized to issue emergency fractional currency during World War One to address the acute shortage of small coins — metal having been absorbed by the war effort. Annecy's chamber issued under that same authorization, with Arnaud of Villeurbanne handling the printing work for numerous provincial issuers across the region during this period.

The JP# reference places this within Jérôme Picard's catalog of French nécessité notes, the standard reference for the type.