Product Description
SCWPM.#117 - TBB.#B278h
Date: 1-7-2005 (2013) (Pic = 2005)
Grade: Unc. - Signature: Mugur Constantin Isărescu
Signature: Ionel Nitu
Description:
Historian, journalist, writer and one time prime minister, Nicolas Iorga (1871 to 1940) appears on the front of the green 1 Leu. Iorga was also President of the National Assembly at one stage. He was assassinated by anti - Semetic nationalists known as the Iron Guard. The Episcopal Cathedral of Curtea de Arges completed in 1521 and a crusader with a cross in its beak appear on the back. The eagle and cross form the see through area. This crusader eagle was central to the coat of arms of the Principality Wallachia which united with the Principality of Moldavia in 1859 to form Romania.
General information: A new generation of polymer notes from Romania
Quite a milestone was reached on 1 July 2005 when the National Bank of Romania issued a second generation of polymer notes. Barring the minor changes to Australias polymer series in 2002 (printed names to portraits and a switching around in the order of the signatures), this is a first.
These new notes are similar to their predecessors however there are two significant and many subtle changes. The most significant change at least from a financial viewpoint is that effective on this issue, Romania introduced a new or “heavy” Leu achieved by lopping four zeros off its old denominations. As it seeks to get its house in order as a prelude to European Union membership, Romania has a number of economic measures in play. This is but one of them. (Earlier this year I covered a new Turkish issue for similar reasons in which six zeros magically disappeared.)
The new denominations are 1 Leu and 5, 10, 50, 100 and 500 Lei. With four zeros gone, these new notes are based on the earlier 10000, 50000, 100000, 500000 and 1000000 Lei. The 2000 L commemorative of 1999 has already been phased out. Under the old system, there was no equivalent to the new 500L (had there been it would have been 5000000 L). One can be excused for thinking that the authorities are leaving room to accommodate future price increases by introducing a higher denomination at this time. Turkey was no different; two new higher denominations arrived with their redenomination.
The second significant change is a reduction in the size of the notes to be in conformity with the current Euro notes. Viz The 1 Leu is the same size as the 5 Euro, the lowest denomination Euro note, the 5 Lei conforms with the 10 Euro and so forth through to the 500 Lei which conforms with the 200 Euro. It is apparent that this move is intended to familiarise Romanians with notes of a size which the authorities hope they will be using in the not too distant future. They probably hope that membership tentatively set for 2007 will not go the same way as Turkeys which has been deferred for several years.
Design of each new denomination is very similar to that of its equivalent under the old system although many of the subtle changes have come about because of the change in dimensions. Considerable initiative has been demonstrated in the design of the see through panel of each note - now very much consistent with the overall theme rather than a simple generic panel.
This series has arrived relatively quickly. It is less than two years since the last issue of the old series, the 1000000 Lei in December 2003, consigning it to an uncommonly short life. Old notes will cease to be legal tender on 1 January 2007.
Historian, journalist, writer and one time prime minister, Nicolas Iorga (1871 to 1940) appears on the front of the green 1 Leu. Iorga was also President of the National Assembly at one stage. He was assassinated by anti - Semetic nationalists known as the Iron Guard. The Episcopal Cathedral of Curtea de Arges completed in 1521 and a crusader with a cross in its beak appear on the back. The eagle and cross form the see through area. This crusader eagle was central to the coat of arms of the Principality Wallachia which united with the Principality of Moldavia in 1859 to form Romania.
Source: Trevor Wilkin
