1000 drachmai 1928

Common. Market data from RealBanknotes shows extensive eBay sales history spanning from 2009 to 2024, with most examples in similar grades selling well below $20 USD (the majority of ungraded or lower-grade examples selling for $1-$5). Even high-grade certified examples (PMG 65-66) fetch $100-$600, indicating healthy supply in the secondary market. The note was issued in substantial quantities during the late 1920s, and this overprinted variant, while more specific than the original issue, remains readily available to collectors. The EF grade is desirable but not exceptionally rare for this series.

This note was issued during a transformative period in Greek banking, following the stabilization reforms of the mid-1920s. The overprinted bank name 'ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ' replaced the original 'Εθνική Τράπεζα' nomenclature, reflecting institutional restructuring during the stabilization of the Greek currency. The reverse's depiction of the Lion's Gate of Mycenae—one of Greece's most iconic archaeological monuments—reinforced national identity and the connection between the modern Greek state and its classical heritage during this period of economic recovery.

The obverse (front) features a central circular portrait medallion containing Georgios Stavros, founder of the Ethniki Trapeza tis Ellados, depicted in left-facing profile wearing formal 19th-century dress with bow tie. The portrait is surrounded by an ornate decorative frame with geometric patterns characteristic of classical Greek design motifs. Denomination ovals with '1000' appear on both sides of the portrait. The entire design is enclosed within an elaborate repeating border pattern with architectural elements. Red overprint text curves across the upper center bearing the new bank name. The reverse displays a classical architectural engraving of the famous Lion's Gate (Πύλη των Λεόντων) of Mycenae, showing the monumental gateway with its distinctive relieving triangle, flanked by stylized Corinthian columns, set against a mountainous background. Corner ornaments containing the denomination appear in all four corners. The printer attribution 'American Bank Note Company' is clearly visible, indicating New York production.

FRONT SIDE: 'ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ' = National Bank of Greece; 'ΔΡΑΧΜΑΙ ΧΙΛΙΑΙ' = Thousand drachmai; 'ΛΗΨΕΤΑΙ ΕΠΙΘΕΣΜΟΝΑΝΙΖΕΙ ΚΟΙΝΗΣΕΙ ΤΗ 4 ΝΟΕΜΒΡΙΟΥ 1926' = Payable pursuant to law of November 4, 1926; Serial numbers and series letter E are present. BACK SIDE: 'ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ' = National Bank of Greece; 'ΕΚΔΟΣΙΣ ΠΕΜΠΤΗ' = Fifth issue/edition; 'ΠΥΛΗ ΛΕΟΝΤΩΝ ΜΥΚΗΝΑΙ' = Gate of Lions, Mycenae; 'AMERICAN BANK NOTE COMPANY' = printer attribution; Denomination '1000' repeated in all four corners.

This note was produced using traditional intaglio (engraved) printing, characteristic of American Bank Note Company's high-security currency production standards of the 1920s. The front features black on green and multicolor underprint with fine line engraving throughout the border and portrait medallion. The reverse employs blue and pink underprint with detailed stone carving engraving of the Mycenaean monument. The red overprint of the bank name was applied as a secondary operation, indicating this is a reissued variety of an earlier design. The fine cross-hatching, intricate geometric patterns, and precise shading visible in the portrait and architectural elements are hallmarks of master engraving work typical of American Bank Note Company's production during this era.

This is Pick-100b, specifically the overprinted reissue variety with new bank name 'ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ' overprinted in red across the upper center in curved lines. The catalog notes indicate the original unoverprinted note was not issued in circulation, making this overprinted variant the standard version for collectors. The visual analysis confirms the absence of a signature under the red bar at lower right (characteristic of this Pick-100b variety). The series letter 'E' visible on the examined note indicates the Fifth issue ('ΕΚΔΟΣΙΣ ΠΕΜΠΤΗ') as marked on the reverse. A related variety exists as Pick-115, issued in 1941 with additional punch holes, representing a post-occupation variant.