50 centimes - Chambre de Commerce de Besançon et du Doubs [25]

French chambers of commerce were authorized to issue small-denomination emergency notes during and after the First World War to address a severe shortage of coins, particularly in the 50 centimes and 1 franc range. Besançon's chamber continued issuing well into the 1920s — the 1922 dating reflects how persistent that coin shortage remained even years after the armistice.

B. Arnaud was a Lyon-based printer active for nearly a century, handling a considerable volume of regional French notgeld-equivalent issues. The Villeurbanne imprint is consistent with other Arnaud-produced chambre notes from this period.