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The 100 Francs Luc Olivier Merson banknote, dated December 31, 1937, belongs to the very last issues of this emblematic type of the Banque de France, distributed on the eve of the upheavals linked to the Second World War. Inheriting a model created in 1906 and revised several times, notably in 1924 and in the 1930s, this banknote illustrates the culmination of a long artistic and technical evolution.
Printed on paper and measuring approximately 180 × 112 mm, this banknote is distinguished by the richness of its composition, characteristic of the French academic style. It is the work of Luc Olivier Merson, whose creations have profoundly marked the aesthetics of French banknotes of the early 20th century.
The front presents an allegorical scene highlighting Agriculture and Commerce, accompanied by two children, in an abundant setting of plants and fruits. This iconography symbolizes economic prosperity and the harmony of exchanges. The official mentions, such as "Banque de France" and "Cent francs payable in cash, on sight, to the bearer", recall the fiduciary role of the banknote.
The back, equally elaborate, illustrates Work, represented by a blacksmith, and Fortune, embodied by a female figure holding a cornucopia. This composition underlines the link between productive effort and generated wealth. We also find the legal text intended to deter counterfeiting.
Like the other issues in this series, the banknote incorporates a watermark representing the heads of Ceres and Mercury, an essential security element at the time. It will be demonetized on June 4, 1945, marking the end of its circulation after the Liberation.
The December 31, 1937 banknote corresponds to a late period of production, with signature combinations varying according to the print runs, notably those of Félix Boyer associated with various chief cashiers. Although these banknotes were issued in large quantities and are relatively common today, they remain highly sought after in good condition.