Collection › Greece › #251
5,000,000 Drachma
P-P-128
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Where & when
What's on the note
Front: Athena, ancient Greek goddess of wisdom, war, and strategic warfare, patron deity of Athens and symbol of Greek civilization. The classical profile portrait in the ancient Greek style reflects the nation's heritage during the catastrophic hyperinflation of the Axis occupation (1941–1944). The denomination of 5,000,000 drachmai illustrates the currency's collapse under wartime conditions; this note was issued on 20 July 1944, mere weeks before liberation, as the printed date inscription confirms ('ΕΝ ΑΘΗΝΑΙΣ ΤΗ. 20ᾳ ΙΟΥΛΙΟΥ 1944').
Back: Geometric guilloche pattern with denomination '5,000,000' repeated centrally and the word 'ΕΚΑΤΟΜΜΥΡΙΑ' (millions) at bottom, with rosettes inscribed 'ΕΚΑΤΟΜΜΥΡΙΑ' at left and right. The entirely abstract design, devoid of any national symbols or imagery beyond denomination, reflects the emergency printing conditions and monetary chaos of Greece under German occupation.
How it was made
Security features: intaglio,microprint
Greece in Europe
Greece in Europe. Other countries on the same continent shown in muted grey.
Background & history
This 5,000,000 drachmai note is from the Greek hyperinflation series issued during the Axis occupation of 1941–1944, one of the most severe hyperinflations in history. The Bank of Greece was forced to print increasingly enormous denominations as the occupying powers extracted resources and printed occupation currency. By 1944, the drachma had become worthless; this note, issued on 20 July 1944, represents the final weeks before liberation in October. The currency was reformed in November 1944 at a rate of 50,000,000,000 old drachmai = 1 new drachma. These high-denomination notes are common survivors but serve as dramatic artifacts of wartime economic collapse.
Collector references
How it came to me
Circulated with some edge wear and toning consistent with age; guilloche and detail remain clear.
What it's worth now
Valuation history (1)
| date | low | high | currency | source | note |
|---|---|---|---|---|---|
| 2026-05-08 17:26:52 | 5.0 | 15.0 | USD | ai | from claude-sonnet-4-5 |
History & extractions
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