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| 正面描述 | The state arms of the Kingdom of Bulgaria — a crowned lion rampant within a shield — appears at upper centre within an ornate vignette border. The heading ЦАРСТВО БЪЛГАРИЯ (Kingdom of Bulgaria) is inscribed at the top in Cyrillic script, with text below designating this as a Държавен Съкровищен Бон (State Treasury Bond) at 500 leva, series А. The document body contains a detailed printed Cyrillic text obligating the Bulgarian National Bank to redeem the bond, with manuscript signatures of the Minister of Finance and the Director of Public Debt. |
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| 正面铭文 | ЦАРСТВО БЪЛГАРИЯ УПРАВЛЕНИЕ ДЪРЖАВНИТѢ В НА ГАРАНТИРАНОТО ОТЪ ДЪРЖАВАТА ДЪЛГОВЕ Държавенъ Съкровищенъ Бонъ Капиталъ . . . . . . 500 . . лева задатъ Лихва 5½% за 2 години 55 Серия А – № 8795 ЛЕВА ПЕТСТОТИНЪ БЪЛГАРСКА НАРОДНА БАНКА |
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Bulgaria's postwar finances in the early 1920s were in serious difficulty. The country had emerged from the First World War on the losing side, and the Treaty of Neuilly-sur-Seine imposed heavy reparations that strained the government's fiscal position throughout this period. The 500 Leva note of 1922 belongs to a high-denomination issue that reflects the inflationary pressures bearing down on the lev during these years — not yet the hyperinflation that would follow later in the decade, but a clear warning of what was coming.
At 240 × 140 mm, this is a notably large-format note even by the generous standards of the era's printing conventions.