Today, much like the monetary Constitution depicted in this banknote’s design, this issue is of great interest to collectors.
It is the higher denomination of the two small-denomination banknotes introduced in May 1925. These banknotes were the Ministry of the Treasury’s response to the prolonged shortage of 2 zlote and 5 zlotych silver coins.
The banknotes of this issue were in circulation for about 5 years (the final exchange took place in June 1931), which explains their natural wear and tear from circulation. The decision to withdraw them from circulation came shortly after the introduction of a new type of 5-złoty note—featuring the goddess Nike on the reverse. And it was precisely this process of replacement—of a denomination with significant purchasing power, after all—that was the main reason for the rarity of these banknotes today.As stated in Lech Kokociński’s study, “the redemption of small-denomination banknotes and their withdrawal from circulation cost the government as much as 25.5 million U.S. dollars; half of this amount was allocated to exchanging small-denomination banknotes for coins, and half for banknotes.”
