1 piastre 1945

Common. Despite its attractive design and historical significance, this 1 piastre note remains common in the numismatic market. eBay transaction history demonstrates consistent availability across multiple condition grades, with PMG 67 specimens selling regularly between $87-$143.50 over the past five years. The print run for this 1945 denomination was substantial, and the note was not recalled or subject to significant attrition. The fact that lower-grade examples (PMG 64-66) consistently sell for $30-$120 and ungraded UNC specimens bring only $20-$40 indicates robust supply. While the PMG 67 EPQ grade is above average condition, the underlying note itself remains readily obtainable.

This 1 piastre note was issued in 1945 by the Banque de l'Indochine during a transitional period in French Indochina's history, when the region was experiencing significant political upheaval following Japanese occupation and the rise of Vietnamese nationalism. The imagery—depicting traditional Vietnamese river life and the monumental Angkor Wat temple—reflects the Bank's effort to represent the diverse cultures and territories under French Indochinese administration. The inclusion of text in French, Vietnamese, Chinese, and Khmer scripts underscores the multicultural nature of the colonial monetary system serving French Indochina's populations.

The obverse features a meticulously engraved scene depicting two Vietnamese boatmen—one seated and one standing with a pole or oar—navigating a traditional wooden vessel across water with mountainous landscape visible in the background. This imagery represents the daily life and river culture of French Indochina's Vietnamese population. The reverse showcases the magnificent Angkor Wat temple complex with its distinctive multiple ornate spires rising prominently from the composition, reflected in still water below—symbolizing Khmer cultural heritage and the temple's importance within the Indochinese territories. Both sides feature elaborate decorative geometric borders with floral corner designs typical of American Bank Note Company engraving. The denomination '1' appears in a large oval frame on the obverse, and the note displays the red block letter 'B' in the upper left, indicating this is the B series variant. The cream/beige field with gray-brown engraved elements creates excellent contrast and visual hierarchy.

OBVERSE: 'BANQUE DE L'INDOCHINE' (Bank of Indochina); 'UNE PIASTRE' (One Piastre); 'L'ART.139 DU CODE PÉNAL PUNIT DES TRAVAUX FORCÉS CEUX QUI AUROIENT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUES AUTORISÉES PAR LA LOI' (Article 139 of the Penal Code punishes with hard labor those who would counterfeit or falsify banknotes authorized by law); 'L'INSPECTEUR GÉNÉRAL' (The Inspector General); 'LE DIRECTEUR DE LA SUCCURSALE DE SAÏGON' (The Director of the Saigon Branch); 'AMERICAN BANK NOTE COMPANY' (printer identification); Serial number '06587172'; Block letter designation 'B' (red). REVERSE: 'GIẤY MỘT ĐỒNG VÀNG' (Vietnamese: One Golden Dong Note); Chinese characters '東方進理銀行' (Eastern Bank); Khmer script 'ធនាគារលម្អិត' (Bank); 'AMERICAN BANK NOTE COMPANY' (printer); PMG grading label indicating 'Pick# 76a ND (1945) 1 Piastre - Printer: ABNC'; 'S/N N264 172 Block B - Red Block Letter B'; Grade '67' (Superb Gem Unc); 'EPQ' (Exceptional Paper Quality); Reference number '1914803-016'.

Intaglio/engraved line printing, executed by the American Bank Note Company (ABNC), one of the world's premier security printers. The fine line engraving visible throughout the note—particularly in the detailed rendering of the boatmen, landscape, temple architecture, and decorative borders—is characteristic of ABNC's high-security banknote production. The multiple layers of text in different scripts (French, Vietnamese, Chinese, Khmer) and the intricate geometric patterns were produced using traditional engraved steel plate techniques to prevent counterfeiting.

This note is identified as Pick catalog number 76a, the primary variety for the 1945 French Indochina 1 piastre. The distinctive feature of this example is the red block letter 'B' designation visible in the upper left corner of the obverse, which represents the B series printing. The catalog data indicates 'Possibly not issued' for this variant, suggesting limited distribution or experimental production, though market activity contradicts any extreme scarcity claim. Serial number N264 172 with Block B designation confirms this as an early series note from the 1945 issue.