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50 Centimes - Chambre de Commerce de Caen et de Honfleur 14
| Issuer | Chambre de Commerce de Caen et de Honfleur |
|---|---|
| Year | 1920 |
| Type | Local banknote |
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|---|---|
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| Reverse lettering | 1920 1923 Ce Billet est délivré et échangé contre des Billets de la Banque de France dans ses Succursales et Bureaux Auxiliaires du Département du Calvados. QUATRIÈME EMISSION |
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| Protection description | No watermark present on examined examples, although Pirot catalogue indicates a bee watermark. |
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| Comments |
The Chambres de Commerce emergency note issues of the First World War and its aftermath were authorized under a 1914 decree permitting local commercial bodies to fill the coin shortage caused by hoarding and wartime metal demands. Caen and Honfleur operated as a joint issuing authority — an uncommon pairing that reflected the commercial ties between the Norman interior and its Atlantic port. Les papeteries de Normandie, the local printer, was a working paper mill rather than a security printing house, which accounts for the relatively modest production quality common across this series.