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50 Drachmai Half of 100 Drachmai
| Issuer | National Bank of Greece |
|---|---|
| Year | 1922 |
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| Shape | Rectangular |
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| Obverse description | This note represents the right half of a bisected 100 Drachmai note (P-55), issued by decree in 1922 to create a 50 Drachmai denomination. The visible half retains the central vignette of the Greek royal coat of arms — a shield bearing a white cross flanked by two classical male figures beneath a royal crown — set within an elaborate guilloche border. The denomination numeral '100' appears in the upper and lower portions of the remaining half, alongside partial text reading 'ΕΚΑΤΟΝ' and the date '8 Μαΐου 1918' with two manuscript signatures below. |
|---|---|
| Obverse lettering | ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ ΕΚΑΤΟΝ 100 ΘΑ ΠΛΗΡΩΣΕΙ ΕΙΣ ΤΟΝ ΕΜΦΑΝΙΣΤΗ 8 Μαΐου 1918 Ο ΒΑΣ. ΕΠΙΤΡΟΠΟΣ |
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| Comments |
In 1922, facing a severe monetary shortage tied to the catastrophic Greek military campaign in Anatolia, the Greek government resorted to a drastic measure: existing 100 Drachmai notes were recalled, physically cut in half, and each half was reissued as a 50 Drachmai note — one half redeemable immediately, the other exchanged for a government bond. It was forced borrowing by scissors. The ABNC plates that produced the original 100 Drachmai series were never intended to yield two independent circulating instruments.
Surviving bisects vary considerably in cut quality and alignment, and the bond-redemption half is substantially rarer than the circulating half.