1950 Kingdom of Greece 1000 Drachmai Banknote - First Issue - Very Fine (VF) - 1950 Greek One Thousand Drachmai Note - P#326a

This listing is for the photographed 1950 1,000 Drachmai Kingdom of Greece Inflated Banknote. Issued on July 10th, 1950. This note was part of the first issue of these notes! Denomination of this note is high, showing the extreme inflation experienced in Greece at the time. The obverse of this note shows an ancient coin of Philip II of Macedon at the left end, and the other side of the coin showing a bird and snake on the right end. The reverse of this note depicts a stone carving of a lion at center surrounded by decorative framing. Very Fine (VF) grade/condition, some folds and other signs of circulation. Beautiful Greek bank note that displays both modern and ancient Greek History. Great addition to any collection! P#326a (Pick Number 326a).

After Greece gained independence from the Ottoman Empire in 1821, the government issued their first versions of paper currency in the independent nation, which displayed a Phoenix to symbolize the rebirth of Greece. In 1841 the National Bank of Greece was established, becoming the official issuing authority of paper currency until 1928. From 1928 to 2001 the Bank of Greece took over the issuance of Greek banknotes, issuing this note in 1955. The bank had to adapt to the economic fluctuations of the country after the two World Wars, with evidence of inflation from their high denominations of Drachmai notes immediately after World War II. In 2002 Greece officially changed their national currency to the Euro, demonetizing the Greek Drachmai.

This note is an extremely interesting piece of Greek history in great condition, making it a great addition to any collection!

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1950 Kingdom of Greece 1000 Drachmai Banknote - First Issue - Very Fine (VF) - 1950 Greek One Thousand Drachmai Note - P#326a