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50 Centimes - Chambre de Commerce de Narbonne 11
| Issuer | Chambre de Commerce de Narbonne |
|---|---|
| Year | 1921 |
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| Composition | Log in to see details |
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| In circulation to | 1 July 1924 |
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| Obverse description | Log in to see details |
|---|---|
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| Protection type | Watermark |
| Protection description | Watermark visible in the paper stock; specific motif not confirmed from catalog sources. |
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| Comments |
French chambres de commerce issued emergency small-change notes — known as monnaie de nécessité — during and after the First World War because the withdrawal of metal coinage from circulation created a chronic shortage of small denominations that the Banque de France made no effort to solve at the local level. The Narbonne chamber's authorization ran well into the early 1920s, which is why this note carries a 1921 date rather than the more commonly seen wartime issues.
Berger-Levrault, a Nancy-based printing house with deep roots in military and administrative publishing, produced a substantial number of these provincial emergency issues. The watermark security on a note of this denomination was not universal across all chambers, making this series marginally more sophisticated than some contemporary equivalents.