Monaco. Principality of Monaco. 1920 First Emergency Issues. Date: March 20, 1920. Dimensions: 110 x 70 mm. Watermark: no. Material: paper. No security thread. Printer: Vve A. Chêne, Monaco. Monochrome front and back printing in brown. Description of the front: texts in French. Decorated frame. Shield with caduceus on the left, crown and coat of arms of the Principality of Monaco in the center and shield with an anchor on the right. In the center in a wreath of flowers, the value "1fr" in letters and numbers and signatures. Combination of signatures with The Minister of State, Raymond le Bourdon and The Chief Treasurer of Finances, Alexandre Noghès. Text concerning the terms of reimbursement of the note on December 31, 1922. Description of the back: texts in French. Shield with ribbon on the left. In the center, a view of the Palace of the Principality of Monaco. Below, a medallion with the crown and the value "1fr". Decorated frame and garland of flowers around. Numbering in black and series at right. 52,500 issued notes.