50 Drachmai

Greece in 1923 was absorbing over a million refugees from Anatolia following the population exchange mandated by the Convention of Lausanne — the monetary system was under acute strain, and the National Bank was issuing notes at a pace domestic printers could not sustain. Contracting the American Bank Note Company was a practical solution to an immediate logistical problem, not a statement of prestige.

The ABNC's intaglio work on Greek issues of this period is competent but relatively plain by their standards. Pick 75 is not among the rarer survivors of the series, though notes that passed through refugee hands in this period often show hard use.