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5 Francs

Issuer Banque Nationale de Belgique
Year 1922-1925
Type Standard circulation banknote
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Obverse lettering BANQUE NATIONALE DE BELGIQUE
CINQ FRANCS
PAYABLES A VUE
LA LOI PUNIT LE CONTREFACTEUR DES FAUX BILLETS FORCES
Le Caissier
Le Gouverneur
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Protection type Watermark
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Comments

Belgium's postwar monetary situation was severe enough that the Banque Nationale leaned heavily on small-denomination paper throughout the early 1920s, partly because coin metal was still being reallocated after wartime requisitioning. The P#93 filled that gap in everyday transactions at the lower end of the scale — not a prestigious issue, but a workhorse one.

The watermark is the sole security measure, a relatively thin line of defense for a denomination vulnerable to crude forgery. Known examples from this series show significant wear precisely because they circulated hard among a population still wary of hoarding paper after the occupation years.

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