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The 100 Francs Luc Olivier Merson banknote, dated October 20, 1938, belongs to the last issues of this emblematic type from the Banque de France, circulated in a tense economic and political context on the eve of World War II. Derived from a model created in 1906 and reworked several times, it reflects the artistic and technical continuity of French banknotes from the early 20th century.
Printed on paper and in a format of approximately 180 × 112 mm, this banknote is distinguished by a rich and balanced composition. The obverse depicts the allegories of Agriculture and Commerce, accompanied by children and surrounded by vegetal motifs, symbolizing prosperity and trade. The reverse illustrates Labor, represented by a blacksmith, and Fortune, embodied by a female figure holding a cornucopia, evoking the wealth derived from effort.
Like other banknotes in this series, it features a watermark representing Ceres and Mercury, guaranteeing its authenticity. Demonetized on June 4, 1945, it marks the end of an era for French fiduciary currency.
Today, this banknote remains relatively common but is still highly valued by collectors for its classic aesthetic.