Product Description:
This 100 Drachmai note, issued by the Trapeza Tis Ellados (Bank of Greece) and marked as the Third Edition (ΕΚΔΟΣΙΣ ΤΡΙΤΗ), emerges from one of the most catastrophic monetary episodes in European history — the Greek hyperinflation of World War II, when Nazi and Axis occupation drained the country so thoroughly that the drachma collapsed almost entirely, and notes of enormous face value became worthless within weeks of printing. What you hold here is a document of survival — a piece of currency from a civilization that endured invasion, occupation, famine, and monetary annihilation, and still rebuilt itself from the ruins. The portrait on the obverse — a Greek hero of the War of Independence rendered in the traditional warrior dress of the fustanella — connects this wartime note to Greece's deeper story of resistance and rebirth. Housed in a protective rigid currency holder and elegantly presented within a handsome wood display frame with a black matted backdrop, this note arrives ready to display.
(PSV 10)
Highlights:
- Issued by the Trapeza Tis Ellados (Bank of Greece), Third Edition (ΕΚΔΟΣΙΣ ΤΡΙΤΗ)
- Portrait of a Greek independence-era warrior hero in traditional dress
- Reverse features Nike — the winged goddess of Victory — a powerful allegorical choice for a nation at war
- Serial number 478161 / ε.Υ.046 — the exact note pictured
- Issued during or immediately after the catastrophic WWII Axis occupation of Greece
- Demonetized — replaced through successive monetary reforms, ultimately by the euro in 2002
- Beautifully framed and ready for display
Banknote Information:
- Country: Kingdom of Greece
- Issuing Authority: Trapeza Tis Ellados (Bank of Greece / Τράπεζα της Ελλάδος)
- Denomination: 100 Drachmai (ΔΡΑΧΜΑΙ ΕΚΑΤΟΝ)
- Edition: Third Edition (ΕΚΔΟΣΙΣ ΤΡΙΤΗ)
- Serial Number: 478161 / ε.Υ.046
- Pick Number: P-169 series (1944)
- Demonetization Status: Demonetized — Greece adopted the euro on January 1, 2002
Design Details:
Obverse: The right side of the note carries a striking portrait of a Greek independence-era warrior — depicted in the traditional costume of the Greek revolutionary fighter, including the characteristic white fustanella skirt, ornate jacket, and distinctive Ottoman-influenced headdress. This is the image of the pallikari — the brave young fighter who defined the Greek War of Independence of 1821–1829 — rendered in fine intaglio engraving. "ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ" (Bank of Greece) scrolls across the top of the note in a decorative banner. "ΔΡΑΧΜΑΙ ΕΚΑΤΟΝ" (One Hundred Drachmai) appears prominently at center, with the payable on demand declaration "Πληρωτέαι επί τη εμφανίσει / ΕΝ ΑΘΗΝΑΙΣ" (Payable on demand / In Athens) below. The serial number 478161 and prefix ε.Υ.046 appear in green at upper center and repeated in black at lower center. Signatures of the Διευθυντής (Director) and Διοικητής (Governor) appear at the bottom. Two ornate guilloche medallion circles — one at left, one at right — frame the composition.
Reverse: The back of the note features a majestic central figure of Nike — the winged goddess of Victory in Greek mythology — standing triumphant with wings spread and a staff or torch in hand, rendered in deep blue intaglio against the aged ivory ground. "ΔΡΑΧΜΑΙ / ΕΚΑΤΟΝ" arcs across the top within a decorative scroll, flanked by "ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ" (Bank of Greece). The denomination "100" appears twice in ornate guilloche rosette medallions at left and right. "ΕΚΔΟΣΙΣ ΤΡΙΤΗ" (Third Edition) is printed at the bottom center — a designation that tells us this design was reissued at least three times, reflecting the rapid note production demands of wartime monetary chaos.
Historical Significance:
The drachma is among the oldest named currencies in the world — the word itself derives from the ancient Greek drachma, meaning "handful," and coins bearing that name circulated in the Greek world as far back as the 6th century BCE. By the time this note was printed in 1944, that ancient currency was passing through its darkest hour.
When Germany, Italy, and Bulgaria jointly occupied Greece beginning in April 1941, they immediately began extracting the country's resources to fuel their war efforts — demanding that the Bank of Greece finance occupation costs by printing money. The result was one of the worst hyperinflationary episodes in recorded history. By late 1944, prices in Greece were doubling every few days. The drachma, which had exchanged at approximately 50 to the dollar before the war, required trillions of drachmai to purchase basic goods by the time liberation came in October 1944. An estimated 100,000 to 300,000 Greeks — primarily in Athens — died of starvation during the occupation, as food was commandeered for occupying troops while the currency used to buy it became worthless.
The choice of Nike — the goddess of Victory — on the reverse of this note takes on profound meaning in this context. These notes were printed as Greece was beginning to emerge from the darkness of occupation, and the image of winged Victory was both an artistic tradition and, in 1944, an expression of desperate hope. Greece would go on to face further turmoil — a brutal civil war from 1946 to 1949 — before stabilizing, rebuilding, and eventually joining the European Union and adopting the euro in 2002, finally retiring the drachma after roughly 2,600 years of monetary history.
For collectors of WWII-era currency, European monetary history, or ancient and modern Greek heritage, this framed 100 Drachmai note — serial number 478161, the exact example pictured — is a profoundly layered artifact connecting the ancient world, the age of independence, and the catastrophe and resilience of the modern Greek nation.
Presentation: Housed in a protective rigid currency holder and elegantly presented within a handsome wood display frame with a black matted backdrop. Ready to hang or display as-is — no additional framing or handling required.
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