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50 Gulden
| Issuer | Royal Bavarian State Debt Liquidation Commission (Königlich Bayerische Staats-Schuldentilgungs-Commission) |
|---|---|
| Year | 1866 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
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| Shape | Rectangular |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | FUENFZIG 50 GULDEN Fünfzig Gulden SÜDDEUTSCHER WÄHRUNG gemäß dem Gesetze vom 4. September 1866. Versichert auf die Kgl. Bayer. Staatsfonds und vollgültig bei allen Zahlungen. MÜNCHEN, am 5. September 1866. Kgl. Bayer. Staats-Schuldentilgungs-Comission. DER VORSTAND: Die Landtagscomissäre: 50 |
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| Reverse lettering | 50 FUENFZIG GULD K B |
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| Comments |
Bavaria's Staats-Schuldentilgungs-Commission was not a central bank but a debt administration body, and its authority to issue circulating paper rested on specific legislative acts rather than a banking charter — an arrangement that made these notes legally distinct from typical state bank currency. The 1866 date is significant: it falls in the year of the Austro-Prussian War, in which Bavaria sided with Austria and lost, forcing a subsequent subordination of Bavarian fiscal independence to Prussian-dominated structures.
Carl Naumann's Frankfurt shop printed the note in Prussian territory, a geopolitical irony given Bavaria's wartime alignment. Within four years, monetary union under the new German Reich would render issues like this obsolete.