Very nice, though with a cut corner.
One of two small-denomination banknotes from the May 1925 issue.
These are rare banknotes, highly prized by collectors, issued by the Ministry of the Treasury. Under Grabski’s reform, they served as a means of supplementing the money supply with missing denominations. The State Treasury was authorized to issue such notes and then gradually withdraw them from circulation and exchange them for coins or banknotes.
And it is precisely this exchange process that is the main reason for their scarcity today. As stated in Lech Kokociński’s study, “the redemption of small-denomination notes and their withdrawal from circulation cost the government as much as 25.5 million U.S. dollars; half of that sum was allocated to exchanging the small-denomination tickets for coins, and half for banknotes.”
These were the last small-denomination banknotes of the Second Polish Republic (the 5 zlotych note from 1926 was already a “state banknote”).
