50 Francs Neuchâtel Cantonal Bank

The Banque Cantonale Neuchâteloise was established in 1883, the same year this series began circulating — one of the later Swiss cantonal banks to form, at a moment when the federal government was already moving toward centralizing note issuance. The entire cantonal note-issuing system would be abolished when the Swiss National Bank opened in 1907, which gives this series a hard terminal date and explains why the issue window runs only to 1905.

Bradbury Wilkinson's involvement is worth noting. The London firm printed for numerous small European issuers during this period, and their intaglio work was considered among the most technically resistant to forgery available at the time.