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5 Drachmai
| Issuer | Bank of Greece |
|---|---|
| Year | 1928 |
| Type | Standard circulation banknote |
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| Obverse description | Central portrait vignette of Georgios Stavros enclosed within fine intaglio guilloche work, with denomination numerals repeated in ornamental panels to the left and right. Intricate lathe-work borders frame the composition on all sides, characteristic of American Bank Note Company engraving practice of the period. |
|---|---|
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| Reverse description | Central denomination statement flanked by two vignettes inspired by ancient Greek coinage: a representation of Demeter to the left and Hermes to the right, the whole executed in finely engraved intaglio with classically derived Hellenic motifs. |
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| Comments |
The 1928 Greek stabilization program, backed by the League of Nations Financial Committee, forced a complete restructuring of the currency — the Bank of Greece itself was only established in 1927 as a condition of that agreement, replacing the National Bank of Greece's note-issuing function. This 5 Drachmai note belongs to the first series issued under the new institution, making it a direct product of imposed fiscal reform rather than organic monetary development.
ABNC's involvement reflects the Greek government's deliberate choice of a foreign printer to signal credibility to international creditors skeptical of domestic monetary discipline after years of drachma devaluation.