5 francs 1944

Common. While historically significant as World War II-era Allied military currency, this note was issued in substantial quantities for practical circulation in France. eBay market data consistently shows examples in VF condition selling for $2-5 and EF examples for $2.50-$3.10, with no evidence of significant premiums or supply constraints. The 2016 catalogue values ($13.50 VF, $68 UNC) likely reflect retail dealer pricing rather than realistic market performance. The extensive sales history from 2009-2025 demonstrates consistent and abundant supply at modest prices, confirming common status.

Issued in 1944 by the Allied Forces during the liberation of France, this banknote served as supplemental currency to stabilize the occupied French economy. The prominent 'EMIS EN FRANCE' inscription on the obverse and the French tricolor flag with 'LIBERTE EGALITE FRATERNITE' on the reverse symbolize the restoration of French sovereignty and republican ideals under Allied military administration. These notes were critical to facilitating commerce and asserting French identity during the final year of World War II and the immediate post-liberation period.

The obverse features a sophisticated security design centered on a decorative shield containing the numeral 5, flanked by ornamental corner designs with elaborate scrollwork and flourishes. The note employs a turquoise and green wavy background with intricate guilloche patterns throughout, creating a complex visual security layer. The reverse displays the French tricolor flag (bleu, blanc, rouge) prominently centered and depicted as waving, set against red and pink wavy line patterns, with the French national motto on a decorative banner. The design reflects both American printing sophistication (Forbes Lithograph) and French republican symbolism, making it a hybrid expression of Franco-American cooperation during the liberation.

Front side: 'EMIS EN FRANCE' (Issued in France), 'SERIE DE 1944' (Series of 1944), 'CINQ' (Five), 'FRANCS' (Francs), serial number 48688209. Back side: 'LIBERTE EGALITE FRATERNITE' (Liberty, Equality, Fraternity - the French national motto).

Lithographic printing by Forbes Lithograph Manufacturing Co., Boston, MA. The note demonstrates multi-color lithography with layered security features including complex wavy line backgrounds, ornate guilloche patterns, and carefully registered color separations (turquoise, green, blue, red, black, and cream). The intricate border designs and decorative elements were achieved through traditional lithographic stone techniques characteristic of security printing of the 1940s era.

The observed note is catalogued as Pick P-115a (1st Issue). The PMG population report indicates P-115* (starred replacement notes) exists as a variant, though none have been professionally graded. Replacement notes with an 'X' near the serial number are documented in circulation variants. This particular note (serial 48688209) shows no visible 'X' marker, confirming it as a regular issue note of the standard variety. No signatures or date variations are noted on this denomination, making it a straightforward example of the primary 1944 issuance.