50 Francs 2nd series, type 1

Ferdinand Hodler was an unusual choice for banknote design — he was a major figure in Swiss Symbolism, not a commercial illustrator, and his involvement gave the SNB's early issues a visual ambition rare in contemporary European currency. The design commission dates to the period when the SNB was still establishing itself, having only opened in 1907 after decades of political deadlock over centralized banking.

Waterlow & Sons handled the printing in London throughout the entire run, which spans three distinct date groups across a decade of wartime inflation pressure and postwar monetary adjustment. Twelve signature combinations are documented across those three dates — unusually high variance for a single type, reflecting real turnover in bank directorate during turbulent years.

The 1914 date group was issued as Switzerland navigated strict neutrality while neighboring economies collapsed under war finance.