500 000 Drachmai Agricultural Treasury Bond

Greece's wartime occupation authorities — the Axis-installed puppet government — financed the Wehrmacht's local supply needs in part by forcing the Bank of Greece to print at extraordinary volumes. By 1942, inflation was accelerating toward the hyperinflationary collapse that would peak in late 1944, when the drachma effectively ceased to function as a currency. This bond-format denomination, technically classed as an agricultural treasury instrument, reflects the administrative fiction of treating emergency inflationary paper as structured debt rather than outright money creation.

The "Agricultural" designation linked these issues nominally to rural credit programs, but in practice the distinction between bond and banknote had collapsed entirely by this stage of the occupation.