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50 Centimes - Chambre de Commerce de Montluçon - Gannat 03

Issuer Chambre de Commerce de Montluçon-Gannat
Year 1920
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Size 93 × 55 mm
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Obverse description Printed in dark olive-green on a salmon-pink underprint, the obverse is framed by an ornate guilloche border with floral cornerpieces. The issuer's title and authorization date appear across the top, above the large denomination legend 'CINQUANTE CENTIMES' in bold letterpress. Two circular guilloche vignettes bearing the numeral value '0.50' flank a central official dry-stamp seal of the Chambre de Commerce de Montluçon-Gannat, below which two manuscript signatures appear for the Treasurer and President, with the series designation and serial number at lower left and right respectively.
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Reverse description Printed in terracotta-brown on plain paper, the reverse repeats the guilloche border with floral cornerpieces framing a largely unadorned field. Four circular guilloche medallions bearing the value '0.50' are placed at the corners, with a large central watermark vignette visible through the paper. A black cancellation or validation stamp is applied at the lower left quadrant.
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Protection description Watermark visible in the centre of the note when held to light, appearing as a large vignette impressed into the paper stock.
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