Banknote Index

 

 
Country Greece
Authority Bank of Greece
Currency Drachma
Denomination 5
Issue Start Date 25/03/1922
Issue End Date 01/01/1927
Type Normal
Material Paper
Width in mm 67
Height in mm 71
Comments Right hand half of P51
By 1922 Greece was financially drained by its involvement in a series of wars over 10 years.
The government therefore imposed a compulsory internal loan. Under Act 2749 of 25 March 1922
all banknotes of 5 drachmas and over were cut in half.
The left hand section then circulated at half its original value; the right hand section was exchanged for a 20 year bond. Withdrawal of these notes began in December 1924 and continued until they were declared invalid in January 1932.
Images of the bonds issued are at the end of the Greek section on this site.
Source John Minucos
BNI Banknote Id 75336

Catalog & Valuation Details

SourceCatalog # / ReferenceValueDate of ValueComments
10th Ed SCWPM General Issues P-0059    
Greek Paper Money, Vol.1 by Theodore Pitidis-Poutous 55b    
Greece, 5 Drachma, P59, 55b

Images