We haven't had such a beautiful "Directorate" on offer for a long time.
The first Polish banknote issued by the Directorate of the Polish National Loan Fund.
One of the last 20th century banknotes that did not live to be listed in bank condition, which is a clear indication of the rarity of the presented banknote. Piece valued in any state of preservation, while in third states it is already a great challenge.
The offered piece impresses with its printing freshness. Fractured vertically, lighter bending through the printed field, but without the all-too-common rubbing on the fracture lines. Minor sagging at the corners and small foxing changes in the margins.
A banknote of unparalleled presence. Attention is drawn not only to the freshness of the printing with beautifully preserved exceptionally intense printing gloss throughout, but to the exquisite color saturation of the printing, which together makes the banknote look beautiful. The paper is relatively clean, the characteristic "zigzag" texture of the paper is perfectly visible, and the bill rustles pleasantly in the hands.
Piece that quality and freshness is, in our opinion, one of the prettiest that has been offered at auctions in Poland. It will be appreciated primarily by collectors with a large providence and experience, who, despite technical shortcomings, will pay attention to the exceptional printing freshness of the offered banknote.
In August 1915, the General-Governorate of Warsaw was established in part of the territory of the Russian Empire occupied by the German army. On November 5, 1916, the Governor-Generals of both occupation zones issued the Act of November 5. Under a decree of December 9, 1916, the German occupation authorities established an issuing institution - the Polish National Loan Fund, which opened on April 26, 1917.
The PKKP was the issuer of the Polish mark divided into one hundred fenigs, whose rate was equalized with the German mark. Iron phenig coins and paper Polish marks were introduced into circulation. The Polish Republic, reborn in 1918, initially did not even have a substitute for its own treasury, so the Polish mark was recognized as a currency.
The reborn Polish state took over and polonized the PKKP. The stock of Polish marks printed in Berlin, inherited from the General Government of Warsaw, was allowed into circulation in its entirety.
Polish marks were put into circulation on April 26, 1917 with a guarantee of repayment up to one billion German marks. The Germans prepared two issues of paper money. The first, commonly called "jeneral" by collectors, consisted of six denominations that had syntax errors. Therefore, a second issue was prepared with corrected inscriptions and three denominations were added: 5, 10 and 1,000 Polish marks. These banknotes, called "general" by collectors, were put into circulation between July and November 1917, except for the highest denomination which hit the market in January 1918.
