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500 Francs

Issuer Banque de l'Indochine
Year 1941
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Value 500 Francs
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Obverse description Lilac-brown and olive underprint. A standing woman is positioned at left within an intaglio vignette, with ships at top center. A red oval overprint reading NOUVELLES HÉBRIDES FRANCE LIBRE, incorporating palm trees and the Cross of Lorraine, is applied to the New Caledonia P-38 base note. The denomination CINQ CENTS FRANCS appears in the upper lettering panel.
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Reverse description Executed in lilac-brown, olive-green, and blue. A standing native woman occupies the right of the central vignette, with ships rendered at top center in the upper register. The penal code warning article appears in letterpress at the bottom center, flanked by guilloche ornamental borders.
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Comments

The Banque de l'Indochine's wartime printing relationship with the Banque de France placed this note in an awkward political position almost immediately after issue. France fell in June 1940, and by 1941 the colonial administration in Indochina was operating under Vichy authority while simultaneously navigating Japanese military occupation — the currency had to function under two overlapping power structures simultaneously.

Fraipont had died in 1910, so the design predates this printing by several decades. The plate work credited to Gaspérini and Dreyfus reflects a common Banque de France practice of assigning engravers to specific faces of an existing design rather than commissioning new work for colonial reissues.

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