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100 Zlotych

Issuer Bank Polski
Year 1934
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Currency Second Zloty (1924-1949)
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Obverse description Brown intaglio print on cream paper. An oval portrait vignette of Prince Józef Antoni Poniatowski in military uniform is positioned at right, set within fine guilloche border work. At left, a large ornate numeral '100' with the złoty monogram 'ZŁ' is enclosed in an elaborate oval guilloche medallion. The central field carries the denomination 'STO ZŁOTYCH' in bold letterpress, below which the date 'WARSZAWA D. 9 LISTOPADA 1934 R.' appears alongside the signature lines for PREZES BANKU, NACZELNY DYREKTOR, and SKARBNIK, with the issuer name 'BANK POLSKI' in a decorative panel at the lower margin.
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Protection description Portrait watermark of Queen Jadwiga with '100 ZŁ' inscription; several watermark varieties are known to exist for this issue.
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Comments

Bank Polski issued this note under the currency stabilization framework that Poland had maintained since the 1927 monetary reform anchored the złoty to gold. By 1934, however, the Great Depression had badly eroded state finances, and the government was operating under increasingly tight foreign exchange controls — the note circulated in an economy where hard currency was jealously rationed and paper was the daily reality for most transactions.

The print run of just over 12 million is modest by interwar European standards. A significant portion of Bank Polski's pre-war stock was destroyed or lost during the German invasion of September 1939 and the subsequent looting of the bank's vaults, which has had a measurable effect on surviving quantities.

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