50 Zlotys German occupation

The Bank Emisyjny w Polsce was not a Polish institution in any meaningful sense — it was established by the German occupation authorities in April 1940 specifically to replace the Bank of Poland and manage currency policy in the General Government territory. Notes issued under its name were legal tender only within that occupied zone, deliberately excluded from the Reich proper to create an economic barrier that extracted resources while insulating German finances from wartime inflation in the East.

The printer, Państwowa Wytwórnia Papierów Wartościowych, was the pre-war Polish state security printing works — seized and pressed into service by the occupation administration, operating in Kraków after Warsaw's facilities had been damaged or redirected.