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500 Drachmai 1932 Punch Holes 1941

Issuer Bank of Greece
Year 1941
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Size 185 × 85 mm
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Reverse description Intaglio vignette drawn from the celebrated Mycenaean gold cups discovered at Vaphio (c. 1450–1500 BC), illustrating scenes of bull-catching: a bull breaking free from its captors, a bull ensnared in a net, and a bull in full gallop. The denomination numerals appear at left and right within guilloche panels, with the issuer title and printer's imprint completing the design.
Reverse lettering 500 ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ 500 ΕΚΔΟΣΙΣ ΠΡΩΤΗ AMERICAN BANK NOTE COMPANY
(Translation: BANK OF GREECE 500 FIRST ISSUE AMERICAN BANK NOTE COMPANY)
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Comments

This is the 1932-dated 500 Drachmai note, reissued under Axis occupation conditions by the simple expedient of punch-cancellation — three holes driven through the note to withdraw it from legal tender status while simultaneously permitting controlled reuse during the currency chaos of 1941. The practice was an administrative stopgap, not a planned reissue program.

The American Bank Note Company had printed the original series well before the occupation. By 1941, fresh supply from New York was impossible, so existing stocks were mutilated and redistributed rather than destroyed.

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