A beautifully preserved piece with no fractures or folds.
Small spot on the top margin of the reverse.
Excellent contrasting yet centric printing.
Beautiful album-like presentation.
In the Polish lands, the introduction of paper money into circulation was connected with expenses related to the outbreak of the Kosciuszko Insurrection. Its issuer was the Directorate of Treasury Tickets established by the Supreme National Council. In terms of value, treasury tickets were equated with coinage. Obligations to the Treasury could be paid a maximum of 50% in paper money and the remainder in coins. This condition resulted in its negative reception by the public. In the future, the redemption of treasury tickets was to be financed from national wealth. For counterfeiting paper money, the death penalty was stipulated, as well as the confiscation of all the perpetrator's property. On September 29, 1794, in order to strengthen confidence in treasury tickets, the National Supreme Council authorized the regulation of the entire amount in paper pennies and zlotys. Due to the failures of the uprising, public confidence in paper money was declining. The population preferred to accept bullion money in settlements. The range of issuance of the first Polish paper money was small - it was introduced on a large scale only in Warsaw. After the capture of the capital on November 6, 1794, tickets of all denominations for a total of 7.8 million Polish zlotys remained in the hands of the population.
Due to the shortage of small copper coinage, it was decided to issue paper penny denominations and lower values amounting to 1 Polish zloty. They were printed on two separate sheets of paper. A security mark in the form of a Roman numeral with the value of the denomination was printed on the top side of the reverse. In the case of the zloty, this was the notation "Z³:
