5 000 000 drachmai 1944
About This Note
This is a Greek 5,000,000 Drachmai banknote from July 20, 1944, issued by the Bank of Greece during the final stages of WWII and the subsequent occupation period. The note is in AU (About Uncirculated) condition with excellent eye appeal, featuring crisp green printing, sharp engraving throughout, and only light age-appropriate foxing. The classical portrait and heraldic emblems showcase exceptional engraving quality characteristic of this high-value emergency currency.
Common. The 5,000,000 Drachmai denomination from 1944 was issued in significant quantities as emergency currency during the hyperinflationary period following German occupation. These notes circulated heavily and were produced in large print runs. Many examples survive in various conditions, and they remain readily available to collectors at modest prices. Pick-128b represents the first issue (Ε2 series) and is not a scarce variety.
This banknote was issued during one of Greece's most turbulent periods—July 1944 marked the final months of Nazi occupation and the beginning of the Greek liberation process. The classical male portrait on the obverse represents Greek cultural and historical heritage, while the heraldic lion emblems on the reverse reflect traditional Greek symbols of sovereignty. This denomination was part of a hyperinflationary series issued as the drachma's value collapsed due to wartime devastation and occupation-era currency debasement.
The obverse features a classical male head with curly hair shown in left profile, rendered within an ornate circular decorative frame—this represents a classical Greek historical figure symbolic of Hellenic cultural continuity. The reverse displays two identical heraldic emblems positioned symmetrically on the left and right, each featuring a lion or mythological beast within elaborate ornamental cartouches, representing Greek state heraldry and sovereignty. The denomination '5,000,000' is prominently displayed in large numerals in the center of the reverse. Both sides employ intricate engraved borders with repeating geometric and guilloche patterns in green and black on a cream background, with the serial number rendered in red print on the obverse.
FRONT SIDE: Τράπεζα της Ελλάδος (Bank of Greece) | Δραχμαί (Drachmai) | 5.000.000 (5,000,000) | Πέντε Εκατομμύρια (Five Million) | Α' (First/Issue) | Ε2 (Series E2) | 075391Ι (Serial Number) | Διοικητής, Πληρωτέαι επί τη εμφανίσει, Διευθύνται εν Αθήναις τη 20ς Ιουλίου 1944 (Administrator, payable on presentation, directed in Athens on July 20, 1944). BACK SIDE: Τράπεζα της Ελλάδος (Bank of Greece) | 5.000.000 (5,000,000) | 5 Εκατομμύρια (5 Million) | Εκατοστής Πρώτη (First Edition/First Issue).
Intaglio engraving (line engraving and recess printing). The visual analysis confirms fine line engraving, complex crosshatching, and guilloche patterns throughout, which are hallmarks of intaglio currency production. The Bank of Greece's notes from this period were typically produced by the National Printing Works (Εθνική Τυπογραφία) in Athens or under contract with established European security printers; the exceptional engraving quality suggests professional currency production despite wartime constraints.
Pick-128b(1) designation indicates this is the first identified variety of the 5,000,000 Drachmai 1944 note. The visual analysis confirms Series E2 designation and serial number prefix Ι (Greek letter Iota). The specific variety is identified by the series letter (E2) and issue designation (Α'=First). Other varieties may exist with different series letters or later reprints, but this represents an early issue from the July 1944 release.
