At our E-Auction 8 – interesting banknotes

The upcoming event is not only selected coins and medals, but also a large number of banknotes, a large group of which will probably arouse emotions during the auction.

Today we will present a few banknotes / test prints that are interesting representatives of the difficult first years of the Polish state established in November 1918. We will start with the pattern of 5 million Polish marks issued by the Polish National Loan Association, i.e. a war creation taken over by the Polish authorities. These banknotes, even though they were still “brands”, already had a state guarantee that they could be exchanged for the future zloty currency. Although the decision to replace Polish marks was made on February 28, 1919, and on that date, a series of banknotes in Polish zloty was printed. Interestingly, the Bank of Poland was already placed as the issuer of these banknotes, which in 1919 did not exist, unfortunately due to galloping inflation, which also affected Poland, and the huge budget deficit, the currency reform was postponed for five years … and so Here, on April 28, 1924, the PKKP was liquidated, the Bank of Poland was opened and the exchange of “Polish marks” for “zloty” was initiated in the ratio of 1 zloty for 1,800,000 marks. The last value that we want to show today is the test print of the 20 zloty banknote from 1931, occasionally listed on the auction market, reproduced on a 1: 1 scale, almost identical in color to the issue specimens.