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100 Francs

Issuer French Treasury
Year 1947
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Value 100 Francs (100 Franken)
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Obverse description Central vignette presents a bust of Mercury in three-quarter view, wearing a winged helmet and accompanied by a laurel branch over the right shoulder and an olive branch over the left. The denomination '100' appears on both sides of the portrait, with the inscriptions CENT FRANCS and TRESOR FRANCAIS arranged around the central design. A notice restricting circulation to occupied territories is printed across the note.
Obverse lettering 100 | 100 CENT FRANCS TRESOR FRANCAIS CE BILLET A COURS UNIQUEMENT DANS LES TERRITOIRES OCCUPES TERRITOIRES OCCUPES
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Comments

This note belongs to the Allied Military Currency series issued for France following liberation, but P#M9 is the specifically French Treasury variant — distinct from the broadly circulated AMC francs printed in the United States. By 1947 the acute postwar currency chaos had subsided enough that the Banque de France could reassume production, and this note reflects that transition: French-printed, French-engraved, but still under Treasury rather than central bank authority.

Beltrand and Broutin were both established Banque de France engravers with long institutional careers, which gives this note a more refined intaglio quality than the American-produced AMC issues it overlapped with in circulation.

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