100 latu 1923

Common. The eBay price tracking data shows multiple sales ranging from $42 to $499 USD, with VF examples documented at both $180 and $499. The catalog value from 2016 lists VF at $800 USD, but actual market realizations are substantially lower. The wide range of prices and multiple sales instances indicate a readily available note in the collector market. While early Latvian currency from 1923 has historical significance, this denomination and issue was produced in sufficient quantities to remain accessible to collectors, particularly in circulated grades.

Issued by Latvijas Banka in 1923, this banknote commemorates Latvia's independence and emerging economy following the country's separation from the Russian Empire. The allegorical imagery of Industry (represented by the left figure with implements and industrial smokestacks in the background) and Agriculture reflects the economic priorities of the newly formed Latvian state, emphasizing both industrial development and agrarian traditions. The heraldic coat of arms with lion and eagle symbols on the central shield reinforces national sovereignty and identity during this formative period of Latvian statehood.

The obverse (front) features a classical allegorical composition with three female figures in flowing robes: the left standing figure represents Industry, holding a hammer or similar implement, with an industrial landscape including factory smokestacks visible in the background; the central seated figure represents Agriculture or State Authority, holding a heraldic shield bearing Latvia's coat of arms with a lion and eagle beneath multiple stars; the right figures serve as attendants or supporting allegorical representations. Both sides feature ornate frames containing large '100' denomination numerals in decorative cartouches. The reverse (back) employs purely ornamental design with geometric and floral border patterns in blue-teal coloring, with the state bank inscription and serial number in red-purple ink. Fine engraved line work, cross-hatching, and intricate geometric patterns throughout provide visual security and aesthetic refinement characteristic of early Latvian state currency.

Front side: 'PAR LATVIJAS BANKAS NAUDAS ZIMJU VILTOSANU VAJ VILTOTU ZIMJU UZGLABATASANU UN IZPLATISANU VAINIGOS SODIS SASKANA AR SODU LIKUMIEM' translates to 'For counterfeiting currency of the Bank of Latvia or storage and distribution of counterfeit notes, punishment according to criminal law.' Back side: 'PILS BANKA' translates to 'State Bank.' Serial number observed as 'A 009615' with reference marking '1025.'

Intaglio engraving (line engraving/copperplate), executed with fine detail work characteristic of European security printers of the 1920s. The complexity of the allegorical composition, fine line work in backgrounds, and geometric border patterns indicate professional bank note engraving. Serial numbers appear to have been applied in red-purple ink, likely through a separate printing pass. The printer for this issue was likely a Western European security printer engaged by Latvijas Banka, though specific attribution would require additional documentation.

PMG cataloging indicates one known variant (P-14b) for this base Pick number. The observed note bears serial number prefix 'A 009615', suggesting a specific printing batch. The red-purple handwritten marks or annotations visible on the back may indicate institutional markings rather than printing varieties. Without access to comprehensive serial number documentation or known printing sequence records, the specific printing batch and any minor varieties cannot be definitively determined from visual analysis alone. The note exhibits characteristics consistent with the standard 1923 issue without obvious overprints or special markings that would distinguish major varieties.