1 zloty 1946

Common. This is a regular issue from a major post-war emission with substantial print runs. eBay market data shows consistent sales activity across all condition grades ranging from $2.25 to $103.50 depending on professional grading (PMG 67 specimens command $60-103, while lower grades sell for under $20). The 2016 catalog value for UNC of $8 combined with persistent secondary market activity confirms this as a widely available note to collectors. UNC examples regularly appear on the market, indicating no scarcity.

Issued in the immediate aftermath of World War II, this 1946 note represents Poland's restoration of monetary sovereignty under the newly established Narodowy Bank Polski (National Bank of Poland). The crowned eagle symbol on the front reflects Polish national identity during the reconstruction period, while the May 15, 1946 date marks the formal currency reform that established the post-war złoty. This note exemplifies the transition from Nazi occupation to Polish independence and the Central Committee's efforts to stabilize the economy through new currency issuance.

The front features a symmetrical design with a central oval cartouche containing the Polish crowned eagle, the traditional symbol of Polish sovereignty, flanked by decorative geometric border patterns in mauve on cream ground. The reverse displays a large ornamental cartouche with an elaborately engraved numeral 1 surrounded by a radiating sunburst or floral pattern, creating a striking focal point. Both sides incorporate fine line engraving detail work throughout, with scalloped frame borders and geometric pattern panels on the left and right edges. The security seal in the bottom left corner of the obverse and the legal tender declarations on the reverse underscore the note's official status.

FRONT: 'NARODOWY BANK POLSKI' (National Bank of Poland); 'JEDEN ZŁOTY' (One Zloty); 'WARSZAWA' (Warsaw); '15 maja 1946 roku' (15 May 1946); 'PREZES' (President); 'NACZELNY' (Chief). BACK: 'JEDEN ZŁOTY' (One Zloty) appears twice; 'BILETY NAPODOWECO BANKU POLSKIEGO SA' (Notes of the National Bank of Poland); 'PRAWNYM ŚRODKIEM PŁATNICZYM W POLSCE' (Legal tender in Poland).

Intaglio line engraving, evidenced by the fine detail work, intricate geometric patterns, and the characteristic quality of line work visible throughout both sides of the note. The printer for this issue is not definitively documented in standard references but follows the style of Polish state printers of the 1946 period. The precision of the engraving and the depth of detail suggest professional security printer production typical of post-war central bank issues.

Pick catalog P-123s represents the sole documented variant for this base Pick number according to PMG population records. No known major overprints, signature varieties, or significant sub-variants have been identified for this particular emission. The note issued on 15 May 1946 with consistent design elements throughout the run.