5 francs 1926
Market Prices
53 salesAbout This Note
This New Caledonian 5 Francs note from 1926 issued by the Banque de l'Indochine presents a classically engraved design featuring Liberty depicted as a Phrygian-capped female profile in the center. The note shows expected age and circulation wear with visible foxing, yellowing, and creasing consistent with VF condition — a pleasing example of early 20th-century French colonial currency from an established and historically significant issuer.
Common. This note is a standard regular issue from a major colonial issuer with a substantial print run for circulation in New Caledonia. eBay market data shows consistent availability with VF examples selling in the $5–$40 range depending on specific condition and certification, with the vast majority of sales under $15. The 2016 catalogue value of $5 for VF and $25 for UNC further confirms this is a readily obtainable collector item rather than a scarce or rare variety.
Issued during the height of French colonial administration in the Pacific, this note represents the monetary authority of the Banque de l'Indochine in Nouméa, New Caledonia. The allegorical female figure wearing the Phrygian cap symbolizes Liberty and French republican ideals, a common motif on French and French colonial banknotes of this era. The warning text against counterfeiting reflects the period's concerns with currency fraud and the legal frameworks supporting colonial financial systems.
This banknote showcases a refined classical design typical of 1920s French colonial currency. The obverse features a left-facing allegorical female profile representing Liberty, crowned with a Phrygian cap — a symbol deeply rooted in French republican ideology. The portrait is centrally positioned with ornate red/pink decorative borders incorporating scrollwork, floral patterns, and geometric elements rendered in fine line engraving. The denomination is stated both numerically and spelled out ('CINQ FRANCS'). The reverse maintains the decorative border scheme and prominently displays the anti-counterfeiting warning within an ornamental cartouche, with a large numeral '5' positioned on the right side. The color scheme of red/pink on cream/beige background was typical for French colonial notes of this period. Printers Ch. Walhain and engraver E. Deloche are credited in the lower margins.
FRONT: 'BANQUE DE L'INDO-CHINE' (Bank of Indochina) / 'CINQ FRANCS' (Five francs) / 'NOUMÉA' (Noumea) / 'PAYABLES EN ESPÈCES AU PORTEUR' (Payable in specie to bearer) / 'Le Président' (The President) / 'Le Directeur Général' (The General Director) / 'CH. WALHAIN, P.C.' (Ch. Walhain, printer with correction mark) / 'E. DELOCHE, SC.' (E. Deloche, engraver). BACK: 'BANQUE DE L'INDO-CHINE' (Bank of Indochina) / 'L'ARTICLE 139 DU CODE PÉNAL PUNIT DES TRAVAUX FORCÉS CEUX QUI AURONT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUES AUTORISÉES PAR LA LOI' (Article 139 of the Penal Code punishes with forced labor those who shall have counterfeited or falsified banknotes authorized by law) / Denomination '5'.
Intaglio engraving (steel or copper plate engraving), the standard security printing method for banknotes of this era. The fine line work, classical portrait rendering, and intricate decorative borders are characteristic of high-quality intaglio production. Printers identified as 'Ch. Walhain and E. Deloche' suggest European (likely French or Belgian) security printing facilities specializing in colonial currency production.
This note is catalogued as Pick P-36b, representing the standard 1926 issue from Nouméa. Pick catalogues recognize variants P-36, P-36b, P-36s, and P-36bs based on subtle differences in printing or signature characteristics. The observed note exhibits signature titles 'LE PRÉSIDENT' and 'LE DIRECTEUR GÉNÉRAL' and bears the printer attribution 'CH. WALHAIN, P.C.' and engraver credit 'E. DELOCHE, SC.' — consistent with the documented P-36b specification. No overprints or emergency markings are evident.
