50 Centimes - Chambre de Commerce d'Ajaccio et de Bastia 20

During the First World War, the near-total disappearance of small metallic coinage from French circulation forced chambers of commerce across the country to issue their own emergency paper fractional currency — the so-called monnaie de nécessité. Corsica's two principal commercial chambers issued jointly under a combined authority, an administrative arrangement that was itself unusual and reflected the island's relative isolation from mainland supply chains.

Moullot fils aîné was a well-established Marseille printing house with extensive experience producing commercial and municipal documents, though not a specialist security printer. The watermarked paper provides the note's only real safeguard against forgery.