100 marek 1919
Market Prices
34 salesAbout This Note
This is an outstanding example of Poland's first independent banknote issue, the 100 Marek from 1919, presented in uncirculated condition with pristine paper and crisp printing throughout. The note features a striking portrait of Tadeusz Kościuszko on the obverse and a majestic crowned Polish eagle on the reverse, both rendered in blue and brown tones against ornate decorative borders. As a foundational piece of Polish numismatic history from the immediate post-WWI period, this UNC specimen represents both historical significance and excellent preservation, making it a desirable item for collectors of early 20th-century Eastern European currency.
Common. While this is an early and historically significant Polish banknote, the 100 Marek P-27 remains common in the collector market. eBay sales data shows consistent availability with typical VF examples selling for $4–$10, AUNC examples for $6–$12, and UNC examples historically trading at $20–$50. The 2016 catalog value for UNC was $20, and recent sales through 2024 continue to show affordable pricing. No recorded extreme scarcity or special varieties that would elevate this note above common status. The relatively high print run from 1919 and the absence of reports of recalls or significant destruction support the common classification.
Issued on August 23, 1919, by the Polska Krajowa Kasa Pożyczkowa (Polish National Loan Bank), this note commemorates Poland's restoration as an independent nation following World War I and the collapse of the Russian, German, and Austro-Hungarian empires. The portrait of Tadeusz Kościuszko, the celebrated Polish military leader and national hero, symbolizes Polish patriotism and independence, while the crowned eagle—Poland's national emblem—reinforces state authority and sovereignty. The text on the obverse explicitly references the Polish State's commitment to exchange these marks for future official Polish currency, reflecting the transitional monetary status of this emergency issue during Poland's early years of independence.
The obverse features a portrait of Tadeusz Kościuszko in profile facing left, rendered in blue tones within an ornate heraldic frame, symbolizing Polish national identity and revolutionary ideals. Above the portrait is a crowned Polish eagle with outstretched wings—the national emblem. The reverse displays a larger, more prominent crowned eagle with fully spread wings as the central motif, enclosed in an ornamental heraldic frame, reinforcing state authority. Both sides are bordered by elaborate ornate scrollwork and floral patterns in blue and brown, characteristic of early 20th-century European banknote design. The denomination '100' appears in the bottom right of the obverse and in two circular medallions on the lower portion of the reverse. The color scheme of blue on brown underprint with beige/tan panels containing text creates a sophisticated, hierarchical design appropriate for a government-issued emergency currency during Poland's founding period.
FRONT SIDE: 'POLSKA KRAJOWA' (Polish National); 'STO MAREK POLSKICH' (One Hundred Polish Marks); 'PAŃSTWO POLSKIE BIERZE NA SIEBIE ODPOWIEDZIALNOŚĆ ZA WYMIANĘ NINIEJSZEGO BILETU NA PRZYSZŁĄ WALUTĘ POLSKĄ WEDŁUG STOSUNKU, KTÓRY DLA MAREK POLSKICH UCHWALI SEJM USTAWODAWCZY' (The Polish State assumes responsibility for exchanging this note for future Polish currency according to the rate which the Legislative Sejm will establish for Polish marks); 'WARSZAWA, DNIA 23. SIERPNIA 1919 ROKU' (Warsaw, dated August 23, 1919); 'DYREKCJA POLSKIEJ KRAJOWEJ KASY POŻYCZKOWEJ' (Direction of the Polish National Loan Bank); 'SKARBNIK GŁÓWNY' (Chief Treasurer); 'KASA POŻYCZKOWA' (Loan Bank); '100' (denomination). BACK SIDE: 'H SERIA A' (Series H A); '400470' (serial number); 'KTO PODRABIA LUB FAŁSZUJE BILETY POLSKIEJ KRAJOWEJ KASY POŻYCZKOWEJ ALBO PUSZCZA W OBIEG LUB USUJĘ PUSCIĆ W OBIEG PODROBIONE LUB FAŁSZOWANE BILETY, PODLEGA KARZE UJEŹDZKIEGO WIĘZIENIA' (Whoever counterfeits or forges notes of the Polish National Loan Bank or puts into circulation or attempts to put into circulation forged or falsified notes is subject to imprisonment); '100' (denomination appearing twice in circular medallions).
This note was produced using traditional intaglio engraving (line engraving), evident from the fine, crisp detail visible in the ornamental borders, portrait shading, and eagle imagery. The complexity of the geometric and floral patterns throughout, combined with the precision of the fine line work in the security features, is characteristic of professional security printing from the period. The sharp registration and color saturation observed in this uncirculated example reflect high-quality craftsmanship typical of Central European banknote production in 1919. The specific printer for this Pick number is not definitively documented in standard catalogs, though it was produced under the authority of the Polish National Loan Bank in Warsaw.
This specimen exhibits serial number variety with 'H SERIA A' (Series H) designation and serial number 400470, consistent with documented two serial number varieties noted in reference sources. The specific series letter 'H' should be noted for collector records. No other overprints, signatures variants, or design modifications are evident in this example. The Pick catalog recognizes only one primary variant (P-27s) for this denomination and issuer.
