Banknote Index


Country Greece
Authority Kingdom of Greece
Currency Drachma
Denomination 100
Issue Start Date 1922
Issue End Date 1942
This Notes Issue Date 1922
Type Bond Specimen
Material Paper
Width in mm 169
Height in mm 147
Comments This is a specimen of the bonds which were issued when the Greek government cut all banknotes in 1922. In that year the government ordered that all banknotes with a value of over 5 drachmas be cut in half. The left hand halves then circulated as currency at half their original value. The right hand halves were a forcible loan to the government, with bonds being issued to people for the amounts that had been "borrowed" from them. By this method the bankrupt government was able to raise funds without having to go to foreign banks, and to control the repayments. There were 3 values of bond - 1,5,10 (100 drachmas, 500 drachmas, 1000 drachmas). They were issued under Law 2749 of 25 March 1922. They were lottery loans, meaning that at regular intervals (annually or quarterly?) a total of 267 bonds would share in a prize pool of 2 million drachmas paid on top of the regular interest (see the back for details). They were 20 year bonds, which means that the Germans came (in April 1941) before they were paid out.
Source John Minucos
BNI Banknote Id 73617

Catalog & Valuation Details

SourceCatalog # / ReferenceValueDate of ValueComments
No Details Available
Greece, 100 Drachma,