50 Francs

The Crédit Agricole et Industriel de la Broye was one of several short-lived cantonal and regional private banks that proliferated in Fribourg canton during the mid-nineteenth century before federal banking consolidation steadily eroded their right of issue. By 1877 the writing was already on the wall — the Swiss National Bank's eventual monopoly on note issue, formalized in 1907, would render all such regional paper obsolete. Notes from Estavayer-based institutions are particularly scarce simply because the bank's circulation area was small and rural, with limited total issuance.

Pick 264 is rarely offered, and examples in any condition attract serious attention from Swiss cantonal paper specialists.