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20 gold 1924 - II EM.B - LARGE RARE VARIETY.

VF
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Lot description Show orginal version
Grade: VF
Reference: Miłczak 59b

Highly rare variant of a rare banknote from the interwar period. A variant with a high and at the same time different typeface of the series letters and numerator digits. Printed on diametrically different, gently grosgrain paper of French manufacture. The other A and C series were printed on domestic papers, mostly in shades of cream.

The offered variety is definitely rarer than the others.

Piece in pleasant and noteworthy natural state of preservation. Broken several times by the field, but the paper retains its stiffness and is still rustled. The freshness of the bill is emphasized by the very pleasant, clear gloss of the printing. Ink stain in the lower left corner.

Typologically a beloved item in the rarest variety in natural state of preservation, definitely for advanced collections of Polish paper money.

In 1919, a law was passed to name the future Polish currency and to establish the Bank of Poland. It was thought that it would be possible to carry out the exchange of Polish marks for zlotys in a short time. The only reason, as it seemed at the time, for not implementing the resolution was the lack of means of payment bearing value in the new currency. The difficult situation of the reborn country influenced the fact that it was decided to introduce only banknotes into circulation. Due to the lack of a modern printing plant in the country, the order was turned to abroad. Due to the rush, the question of the appearance of the graphic design of Polish paper money was left in the hands of the graphic designers employed by the printing houses that were to make the banknotes. The order was accompanied by photographs of popular images of Tadeusz Kosciuszko and Jozef Poniatowski.

Initially, ten denominations were planned for circulation. The lower denominations from 1 to 50 zlotys were printed in 1919 by the Banque de France. On the other hand, banknotes with denominations from 100 to 5,000 were printed in 1920 by the London printing house Waterlow & Sons Limited.

In 1924, Poland underwent a currency reform that resulted in the conversion of Polish marks into zlotys. On the day the Bank of Poland opened, six of the ten denominations were allowed into circulation. Banknotes in the denominations of 1 and 2 zlotys were put into circulation as pass tickets of the Ministry of the Treasury, but were not provided with the appropriate overprints informing of this fact. The two highest denominations - 1,000 and 5,000 zlotys - also did not enter circulation. These banknotes were not put into circulation because their face value was too high.

The graphic design of the banknotes ordered in 1919 is kept in a neo-Baroque style. Only the 10 zloty is characterized by Art Nouveau geometrization of space. Starting with the 50 zloty denomination, the graphic design of each denomination is enriched by ornamental motifs in the form of acanthus leaves, bunches of fruit, shells, palmettes and guilloches.

The main accent of the obverse of each denomination is a bust of a national hero. On the reverse of the 5, 20, 50, 100 and 500 zloty banknotes, a White Eagle in an open crown was placed at the height of a portrait of Kosciuszko or Poniatowski.

In the middle of 1924, the money market experienced a shortage of the most commonly used paper money in everyday life. In view of the situation, it was decided to print banknotes with denominations of 5, 10 and 20 zlotys. This task was entrusted to the State Graphic Works in Warsaw. On the banknotes printed in Warsaw, the date of issue was changed to July 15, 1924, the wording of the legal clause and the signatures.

Auction
XII Premium Auction at the Monopol Hotel ☆☆☆☆☆
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Date
29 September 2023 CEST/Warsaw
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Start price
1 124 EUR
Grade
VF
Hammer price
4 412 EUR
Overbid
393%
Views: 398 | Favourites: 30
Auction

WÓJCICKI - Polski Dom Aukcyjny

XII Premium Auction at the Monopol Hotel ☆☆☆☆☆
Date
29 September 2023 CEST/Warsaw
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WÓJCICKI - Polski Dom Aukcyjny
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Salon Numizmatyczny Mateusz Wójcicki Sp. z o.o.
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Zwiadowców 9
52-207 Wrocław
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