1 grachme 1897
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4 salesAbout This Note
This is a Fine-grade example of Greece's 1 Drachma note from 1897 (Pick P-40), issued by the Ethniki Trapeza tis Ellados and printed by the prestigious Bradbury Wilkinson & Company of London. The note displays the characteristic classical Greek imagery of the period—Athena on the obverse and the Royal Arms of King George I on the reverse—rendered in fine engraved line work on cream paper with black and blue inks. Despite moderate circulation wear and age-related yellowing, the intricate security engraving remains crisp and well-defined, making this a solid representative example of late 19th-century Greek currency.
Common. This is a regular issue of the 1 Drachma note that remained in circulation for an extended period, with substantial print runs typical of a national currency in active use. The catalog reference data shows eBay sales in the F grade ranging from $46 to $108 in recent years, with 2016 catalog values placing an F-grade example at $40. The availability of multiple comparable sales and consistent low-to-moderate pricing indicate no scarcity premium. While the note has historical and artistic merit, it is not rare or difficult to obtain.
Issued under Law AGNB of September 29, 1885, this note represents Greece's modernization of its currency system during the reign of King George I. The choice of Athena as the primary allegorical figure reflects Greece's cultural connection to its classical heritage and the ideals of wisdom and civilization, while the central positioning of the Royal Arms with cross and crown emphasizes the monarchy's authority and Orthodox Christian identity. This issue type remained in circulation for decades, underscoring the stability of the Greek drachma during this formative period of the modern Greek state.
The obverse features Athena, the Greek goddess of wisdom, depicted in classical Greco-Roman style in left profile, holding a torch or associated with radiating light symbolizing enlightenment. She is rendered in fine engraved line work against a cream background with ornamental corner flourishes and scrollwork. The denomination cartouche containing 'ΔΡΑΧΜΗ' is centrally positioned. The reverse displays an elaborate coat of arms centered on the note, featuring the Greek cross within a shield, surmounted by a crown, flanked by two heraldic eagles or winged figures. Four identical male allegorical figures—classical robed personifications—occupy the corners. The entire composition is enclosed in an ornate engraved border with sophisticated cross-hatching and pattern work throughout, serving both decorative and security functions.
Front: 'ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ' (National Bank of Greece); 'ΔΡΑΧΜΗ' (Drachma); 'Νόμος ΑΓΝB του 29 Σεπτεμβρίου 1885' (Law AGNB of September 29, 1885); 'Wilkinson & Co. London' (printer identification); Serial designations 'Σ907' and '08.951'. Back: 'BRADBURY WILKINSON & COMPNY LONDON' (Bradbury Wilkinson & Company, London).
Steel engraving (intaglio printing), executed by Bradbury Wilkinson & Company, London—one of the world's premier security printers of the era. The fine line engraving, complex cross-hatching, intricate border patterns, and multi-layered design elements are characteristic of high-security intaglio work. The black and blue color separation visible on the note (black for the obverse, blue for the reverse) indicates separate engraved plates for each side, a standard practice for currency of this period.
This example corresponds to Pick P-40, the standard 1 Drachma issue dated L.1885 (issued 1897) without overprint. The note shows the regular serial number format (Σ907 / 08.951) typical of this issue. The catalog reference notes that overprinted examples (with red 'NOMOΣ 991/1917' overprint) are catalogued separately under Pick P-301. The present example shows no overprint and therefore represents the standard, unmodified issue variety.
