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50 Francs
| Issuer | Caisse Hypothécaire & de Crédit du Canton du Valais |
|---|---|
| Year | 1871 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS À MONTHEY (Suisse) FRANCS Série A No. 50 BILLET AU PORTEUR de 50 Fr. payable à 60 jours de vue. Il sera payé en espèces à 60 jours de vue au porteur CINQUANTE FRANCS Un Administrateur Le Directeur Un Administrateur ÉMISSION 1er AOÛT 1871 |
| Reverse description | The reverse is printed in blue on white paper with a clean, typographic layout. Two large guilloche ovals carrying the numeral 50 flank a central oval bearing the Swiss cantonal arms of Valais — a shield with a white cross above horizontal stripes — within a laurel wreath. The issuer's name CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS arches across the top, and the inscription AUTORISÉE PAR L'ÉTAT / CAPITAL SOCIAL: 2,000,000 DE FRANCS is set in bold letterpress at the base. |
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| Comments |
The Caisse Hypothécaire du Canton du Valais was a cantonal mortgage and credit institution, not a commercial bank — its authority to issue circulating paper currency was always legally ambiguous under Swiss federal law. This note predates the 1881 Bank Notes Act, which finally forced cantonal and private issuers to either meet strict reserve requirements or exit the note-issuing business entirely. The Valais caisse did not survive that consolidation as an issuer.
Pick 586 is among the rarer Swiss cantonal private issues of the period. Most surviving examples show heavy fold wear, consistent with active regional circulation rather than hoarding.