50 Korun

This note was authorized under the postwar Czechoslovak government reconstituted in Košice in April 1945, before the full Soviet-aligned takeover of 1948. Waterlow & Sons produced the issue in London, a practical necessity — Czechoslovak printing capacity had been thoroughly disrupted under German occupation, and several exile-period notes were contracted to British security printers. The series bridges two political realities: it was designed for a restored republic that would cease to exist before the notes were fully retired.

The 1945–1948 date span covers the currency reform of November 1945, when old Protectorate-era currency was exchanged at restrictive rates — a measure aimed at wiping out wartime profiteering that also hit ordinary savers hard.