500 Francs 5th series, type 1

The 5th series was commissioned in the late 1940s as Switzerland rebuilt its currency infrastructure after wartime disruptions to normal banking operations. Waterlow & Sons — the London firm responsible for the notorious Portuguese escudo overprint scandal of 1925 — had by this period rehabilitated its reputation and was handling high-security work for several European central banks. Harold Bard's intaglio engraving on this note is precise enough to reward close examination under magnification.

Nine valid signature combinations across three dates make this one of the more complex signing arrangements within the series, reflecting the SNB's collegial directorate structure.