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500 Drachmai Half of 1000 Drachmai
| Issuer | National Bank of Greece |
|---|---|
| Year | 1922 |
| Type | Log in to see details |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#63 |
| Obverse description | The left half of the bisected 1000 Drachmai note (P-50), cut vertically by government decree in 1922 and revalued at 500 Drachmai. The retained half presents a male portrait intaglio vignette set within an elaborate guilloche oval frame, with the denomination numeral 1000 in a foliate cartouche below; a maritime vignette is partially visible at the right cut edge. The partial inscription ΕΘΝΙΚΗ ΤΡΑΠΕΖ- runs diagonally at upper right, and a red serial number prefix appears above the portrait. |
|---|---|
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| Reverse lettering | 30 Μαρτίου 1901 1000 ΑΘΗΝΗΣΙ E DE GRECE |
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| Comments |
Greece's postwar finances were in crisis by 1922, and the government resorted to a drastic measure to double the money supply without printing new notes: every 1000 Drachmai note in circulation was called in, physically cut in half, and each half declared legal tender at 500 Drachmai. One half was returned to the holder; the other was forcibly converted into a compulsory state loan. The American Bank Note Company plates never entered the picture — this note exists because of scissors, not presses.
The cut itself is the key authentication detail. Diagonal, straight, or irregular — the bisect line varies, and a note with its matching half has occasionally surfaced.