50 Drachmai

Greece was deep in the Anatolian Campaign when this note entered circulation — the Asia Minor offensive that ended in catastrophe at Smyrna in 1922. The ABNC contract reflected a recurring pattern: the National Bank of Greece frequently turned to American and British printers when domestic capacity or political instability made local production impractical.

The 1921–1922 date range spans the turn of the war's fortunes. Notes from the later printings circulated into a country processing a humanitarian disaster and a massive influx of refugees, conditions that drove hard use and accelerated deterioration of paper stock.