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500 Francs Without Decree

Issuer Banque de l'Indo-Chine
Year 1921
Type Standard circulation banknote
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Obverse lettering BANQUE DE L`INDO-CHINE NOUMÉA, le 3 Janvier 1921. CINQ CENTS FRANCS payables en espèces au porteur Le caissier de l`Agence, Le Directeur, Un Administrateur, A. BRAMTOT & G. DUVAL FEC. J. ROBERT SC.
(Translation: Bank of Indo-China Noumea, January 3., 1921. Five Hundred Francs payable in cash to bearer The Agency Cashier, The Director, an administrator.)
Reverse description Printed in blue, the reverse is dominated by an elaborate guilloche underprint arranged in a symmetrical grid of decorative cartouches and interlaced scrollwork panels. A large central oval medallion is surrounded by four rectangular text panels bearing the anti-counterfeiting legal warning and denomination, all enclosed within an ornate guilloche border.
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The Banque de l'Indo-Chine occupied a peculiar position in French colonial finance: it held the exclusive right of issue across French Indochina, New Caledonia, and French Polynesia simultaneously, functioning more like a private concessionary bank than a central one. This 500 Franc note was produced without a decree date — "sans décret" — a feature that distinguishes it from later issues where the governing decree authorizing each printing was printed directly on the note. The Banque de France printed the series, as it did for several colonial issuers, bringing metropolitan production standards to notes that would circulate in Saigon and Hanoi.

Charles-Jules Robert's engraving work for this denomination is among the finer examples of Third Republic intaglio craftsmanship applied to colonial currency.

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