50 Centimes - Chambre de Commerce de Boulogne-sur-Mer 62

French chambers of commerce were authorized to issue emergency small-denomination notes during and after World War I to address a severe shortage of coin, which had been hoarded or melted. Boulogne-sur-Mer's chamber issued this 50 centimes note in 1920, well into the postwar period — the coin shortage persisted far longer than the armistice.

Printed locally by Imprimeries Réunies rather than one of the large Parisian security printers, the series relied on a watermark as its primary fraud deterrent. JP#31-26 places it within a well-documented run of Boulogne chamber issues, most of which circulated heavily in the fishing port's busy commercial economy before redemption series wound down in the mid-1920s.