10 francs 1948

Common. The eBay price data confirms this is a widely traded, readily available note across all condition grades. Sales records span from 2009 to 2024 with regular transactions, and Fine condition examples consistently sell in the $7-$13 range, well below the threshold that would indicate scarcity. The 2016 catalog value for VF is only $10, further confirming common circulation status. While PMG has graded certified examples (including high-grade specimens selling for $80-$113), the overall population suggests substantial original mintage and availability in the numismatic market.

Issued in 1948, just two years before the Banque de l'Afrique Occidentale's operations would transition with African decolonization movements, this note represents the French colonial monetary system in West Africa. The classical African portrait busts and tropical vegetation depicted on both sides reflect the colonial aesthetic of the era, celebrating the territories and peoples under French West African administration. The note's French-only inscriptions and design conventions underscore the period's French imperial authority over the region before independence movements reshaped the continent.

The obverse depicts two African male portrait busts rendered in classical sculptural style—a larger, prominent bust on the left shown in right-facing profile with a bald head, and a smaller bust to the right holding what appears to be a spear or staff. Both figures are surrounded by tropical vegetation including palm fronds and savanna grasses, establishing a colonial-era iconography of African subjects within their natural environment. The reverse features a single African male figure in three-quarter view among elaborate tropical foliage, positioned near a fish (likely a regional freshwater species), with a prominent circular design element on the left side. The composition demonstrates the classical European engraving tradition applied to colonial African themes, with fine line work and intricate botanical detail serving dual purposes as decorative and security elements. The color palette consists of beige, cream, brown, gray, purple, and accent colors including blue and green tones.

FRONT SIDE: 'BANQUE DE L'AFRIQUE OCCIDENTALE' (Bank of West Africa); 'DIX FRANCS' (Ten Francs); 'Le Président' (The President); 'Le Directeur G.t' (The General Director); 'R.61' (regional/series designation); '27-12-1948' (issue date: December 27, 1948); '61824' (serial number); 'SEB. LAURENT FEC.' (Engraved by Seb. Laurent); 'R. ARMANELLI SC.' (Sculpted by R. Armanelli). REVERSE SIDE: 'BANQUE DE L'AFRIQUE OCCIDENTALE' (Bank of West Africa); '10' (denomination); 'L'ARTICLE 139 DU CODE PÉNAL PUNIT DES TRAVAUX FORCES CEUX QUI AURAIENT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUES AUTORISÉS PAR LA LOI' (Article 139 of the Penal Code punishes with hard labor those who would have counterfeited or falsified banknotes authorized by law); 'MAGO. TISON' (Artist/engraver signature: Mago. Tison).

Intaglio engraving (line engraving), the standard method for banknote production of this era. The note exhibits characteristic features of professional security printing: fine guilloche patterns in the margins, intricate portrait engraving with careful tonal gradation, detailed decorative botanical elements serving as anti-counterfeiting measures, and consistent fine line work throughout the background. The note credits two skilled artisans—Seb. Laurent (engraver) and R. Armanelli (sculptor)—indicating the collaborative classical engraving process. The printer is the Banque de l'Afrique Occidentale itself or an associated European security printer typical of French colonial currency production.

This note is identified as Pick P-37 with the watermark 'Man's Head.' The PMG population report indicates two cataloged variants exist: P-37 and P-37s (both with Man's Head watermark). The observed example displays the date '27-12-1948,' consistent with the 1948 issue date noted in catalog data, though the realbanknotes.com reference indicates an issue date of 1946, suggesting these notes may have been released over a multi-year period. The serial number visible is '61824' with prefix 'R.61,' representing the regional designation. Further detailed variety classification would require comparison against complete Pick catalog specifications for this issue.