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1 Franc

Issuer Chambre de Commerce de Constantine
Year 1921
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Obverse description Printed entirely in green, the note is framed by an ornate scrollwork and foliate border with elaborate corner flourishes. The denomination 'UN FRANC' is set in bold central lettering, above which the authorization text 'Délibération du 12 Octobre 1921' appears, with the exchangeability clause against Banque de l'Algérie notes below. An oval guilloche cartouche at bottom centre carries the '1 fr.' numeral, flanked by the series and serial number designations.
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Reverse lettering 1922
CHAMBRE DE COMMERCE DE CONSTANTINE
UN FRANC
Le Président
Le Trésorier
IMP. LEFERT CONSTANTINE
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Comments

The Chambres de Commerce emergency notes issued across French Algeria during and after World War One filled a genuine void — the metropolitan franc coinage had been hoarded or melted, and the Banque de l'Algérie couldn't paper over the gap fast enough. Constantine's chamber was among the more prolific local issuers, and the Lefert press was a local establishment, not a specialist security printer. That matters: production quality and anti-counterfeiting measures were modest by any standard.

By 1921, the acute shortage that originally justified these issues had largely passed, making late-dated examples like this one less a crisis instrument than a transitional holdover pending formal recall.

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