5 francs 1939

Common. This 5-Francs note from 1939 was part of the regular circulation issue of the Swiss National Bank and saw substantial print runs. The eBay price data confirms this assessment: comparable VF examples sold for approximately $8.50-$8.90 in 2021, well below the $50 catalog value for EF specimens, indicating strong availability in the secondary market. While all early Swiss notes have collector appeal, this particular issue shows no evidence of scarcity or special demand that would elevate it beyond common circulation-issue status.

Issued on May 17, 1939, just months before World War II's outbreak, this note represents the final regular-issue 5-Francs design of the pre-war period. The classical female allegorical figure and ornate Swiss cross symbolism emphasize Swiss cultural heritage and federal identity during a period of increasing geopolitical tension. The trilingual inscriptions in German, French, and Italian reflect Switzerland's commitment to linguistic representation across its cantons during this era of nationalist movements.

This note features a classical allegorical female figure in profile within a prominent circular medallion on the obverse, representing Switzerland's tradition of personifying the nation through feminine iconography. The obverse displays an olive-green underprint with red, blue, and black overprinting, creating a sophisticated color palette enhanced by pink, brown, and gray tones. The Swiss cross in shield form appears prominently at the top center, while elaborate floral rosettes and geometric coat-of-arms design elements frame the central denomination text. The reverse is dominated by an intricate central numeral '5' housed within an ornate oval frame, surrounded by exceptional guilloche work and fine line engraving that creates complex symmetrical patterns throughout. Corner rosettes and the repeated '5' denomination in all four corners reinforce the security printing approach. The reference to Rütli Mountain in the original catalog suggests Alpine symbolism typical of Swiss national identity imagery from this period.

FRONT SIDE: 'SCHWEIZERISCHE NATIONALBANK' (Swiss National Bank), 'BANQUE NATIONALE SUISSE' (Swiss National Bank - French), 'BANCA NAZIONALE SVIZZERA' (Swiss National Bank - Italian), 'FÜNF FRANKEN' (Five Francs), 'CINQ FRANCS' (Five Francs - French), 'CINQUE FRANCHI' (Five Francs - Italian), 'Gesetzgebung über die Schweiz Nar. Bank' (Legislation concerning the Swiss National Bank), 'Bern und Zürich, 17. Mai 1939' (Bern and Zurich, May 17, 1939), 'Der Präsident des Bankrates' (The President of the Board of Directors), 'Der Hauptkassier' (The Chief Cashier), 'Ein Mitglied des Direktoriums' (A Member of the Board of Directors), with signatures of G. Bailmann, Blumberg, and J. Hotz. Serial number: SqRJP 208 F 068000 803000. BACK SIDE: 'SCHWEIZERISCHE NATIONALBANK', 'BANQUE NATIONALE SUISSE', 'BANCA NAZIONALE SUISSE', with the denomination '5' repeated in central oval and all four corners.

Intaglio engraving (copperplate printing), the standard security printing method for Swiss National Bank notes of this era. The extensive guilloche patterns, fine parallel line work creating depth and texture, and intricate circular rosette designs are characteristic of high-security intaglio production. The multilayered color application (olive-green underprint with red, blue, and black overprints) suggests combination printing techniques typical of 1930s Swiss banknote security standards. The printer was likely Orell Füssli or another established Swiss security printer contracted by the SNB during this period.

Pick catalog identifies this as P-11i, one of eight documented variants (P-11c through P-11s) for the 5-Francs base denomination from this series. The specific variety designation relates to signature combinations and potentially subtle printing variations across the production run. The observed note shows the signatures of G. Bailmann (President of Board), Blumberg (Chief Cashier), and J. Hotz (Board Member), which help determine the exact variety classification. The serial number prefix 'SqRJP' and the specific serial combination 208 F 068000 are consistent with the documented variant range for P-11i.