10 francs 1943
Market Prices
53 salesAbout This Note
This Belgian 10 Francs (2 Belgas) note from 1943 is presented in AU condition with exceptional crispness and no visible wear. The bilingual design features elegant green and pink/beige ornamental borders with fine guilloche patterns and a central medallion, representing the sophisticated currency design of occupied Belgium during World War II. The note's pristine state, sharp printing quality, and intact security features make it an excellent example of this wartime issue.
Common. Extensive eBay sales history from 2009-2026 shows consistent supply at modest valuations ($0.49-$17.50), with typical market prices for VF condition around $2-$5 and EF condition around $3-$8. The 2016 catalogue value of $10 for UNC specimens reflects moderate collector interest but widespread availability. High print runs during the occupation period and the note's survival in good quantities suggest no scarcity concerns for this Pick number.
Issued by the Banque Nationale de Belgique on February 1, 1943, during the German occupation of Belgium in World War II, this note reflects the bank's continued operation under wartime conditions. The bilingual French-Dutch presentation maintained Belgium's linguistic duality even as the nation endured occupation, with the formal 'payable on demand' and 'hard labor for counterfeiters' clauses representing pre-war banking standards that persisted throughout the conflict.
The note features a symmetrical design centered on an ornate circular medallion containing the BB monogram (Banque Belgique/Bank België) with intricate cross-hatching and heraldic elements. Large decorative numerals '10' are positioned on the right side, while ornamental corner cartouches with scrollwork frame the design. The bilateral text presentation—French on one side, Dutch on the reverse—emphasizes Belgium's dual linguistic heritage. Two signature lines at the bottom identify the Treasurer (left) and Governor (right), with the Treasurer's designation in French as 'LE TRESORIER' and in Dutch as 'DE SCHATBEWAARDER'. The overall composition employs fine-line guilloche patterns and cross-hatched backgrounds typical of high-security banknote design.
Front (French version): 'BANQUE NATIONALE DE BELGIQUE' (National Bank of Belgium), 'DIX FRANCS OU DEUX BELGAS' (Ten Francs or Two Belgas), 'PAYABLES A VUE' (Payable on Demand), 'LE TRESORIER' (The Treasurer), 'LE GOUVERNEUR' (The Governor), 'LA LOI PUNIT LE CONTREFACTEUR DES TRAVAUX FORCES' (The Law Punishes Counterfeiters with Hard Labor). Front (Dutch version): 'NATIONALE BANK VAN BELGIE' (National Bank of Belgium), 'TIEN FRANK OF TWEE BELGAS' (Ten Franks or Two Belgas), 'GEZALFBAAR OP ZICHT' (Payable on Sight), 'DE SCHATBEWAARDER' (The Treasurer), 'DE GOUVERNEUR' (The Governor), 'DE NAAMAKER WORDT DOOR DE WET MET ONWANGARBEID GESTRAFT' (The Counterfeiter is Punished by Law with Forced Labor).
Intaglio engraving with multicolor printing (green and pink/beige inks on light green and light pink underprint), executed by TDLR (Thesaurie De La Recette/Treasury Printing) without imprint mark. The fine cross-hatching patterns, intricate guilloche borders, and sharp registration of the bilingual elements demonstrate the precision of intaglio technology. Security features include the detailed line-work patterns and the embedded serial number.
This specimen carries serial number P2403889, consistent with the standard P-122 variety. PMG has catalogued two variants (P-122 and P-122s), likely representing standard and specimen notes. The TDLR printer attribution without imprint distinguishes this from other Belgian issues. No specific overprints, date variations, or signature variants are noted on this specimen; it represents the regular 1943 issue with the standard Treasurer and Governor signature lines.
