50 Centimes - Chambres de Commerce de Périgueux

Périgueux was one of dozens of French provincial chambers of commerce that resorted to printing their own small-denomination paper during the First World War, when bronze and nickel coins were hoarded or melted and the Banque de France could not adequately supply fractional currency to the regions. The Chambre de Commerce de Périgueux contracted Imprimerie Ronteix — a local press — to produce these notes, which meant design, printing, and circulation all stayed within the Dordogne.

The JP#98 series ran across several distinct emission dates between 1917 and 1920, making date variants the primary differentiator for collectors. Notes that circulated into the postwar redemption period often show heavier wear along the horizontal fold lines.