Catalog
50 Francs
| Issuer | Caisse Hypothécaire & de Crédit du Canton du Valais |
|---|---|
| Year | 1871 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | The reverse is printed in blue-green tones on a fine guilloche underprint that covers the entire surface. Three oval medallions are arranged horizontally across the centre: the two outer medallions each bear the numeral 50 within dense lathe-work guilloché, while the central medallion displays the cantonal arms of Valais — a shield charged with thirteen stars beneath a Swiss cross — encircled by a laurel wreath. The issuer's name arches across the top in bold capital letters, and the state authorisation and share capital inscription appear along the lower margin. |
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| Protection description | Watermark reading CAISSE HYPOTHÉCAIRE & DE CRÉDIT DU CANTON DU VALAIS visible in the paper |
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| Comments |
The Caisse Hypothécaire et de Crédit du Canton du Valais was one of the cantonal mortgage and credit institutions that briefly held note-issuing authority in Switzerland before federal consolidation swept such privileges away. The Swiss Federal Banking Act of 1881 effectively ended private and cantonal note issuance, making this 1871 emission one of the final years in which such institutions could still circulate their own paper with any confidence of longevity.
Valais remained one of the more economically marginal Swiss cantons in this period, and notes from its regional institutions saw limited distribution — largely agricultural credit transactions rather than commercial trade. Survivors are rare precisely because circulation was thin and redemption thorough.