In the financial system of the General Government (a German administrative-territorial entity on Polish and Ukrainian territories from 1939 to 1945), pre-occupation banknotes remained in circulation for a time alongside the newly introduced means of payment issued by the Nazi administration. The annexationist nature of such banknotes was emphasized by special overprints.
A distinctive feature of this particular banknote is the presence of two Nazi occupation stamps placed on the banknote’s coupon (alonge). The upper stamp (in red) belongs to the Warsaw Ghetto; it features a six-pointed Star of David along with the German inscriptions "Jude" (Jews) and "Warschau" (Warsaw). The lower stamp (in black) depicts the imperial eagle clutching an oak wreath with a swastika, as well as the Kraków Barbican—a historic fortification and one of the symbols of the city of Kraków—along with the German inscriptions "Generalgouvernement" (General Government) and "Krakau" (Kraków).
With such occupation-era overprints, zloty banknotes of the Republic of Poland continued to be used for monetary transactions within the Jewish ghetto in Warsaw, which operated from 1940 until its complete destruction during the armed uprising of 1943. The last remaining residents were deported to the Nazi concentration camp at Treblinka.
Printed on watermark paper, rectangular in shape, in light green and light brown tones with the addition of blue, white, gray, and yellow.
The obverse features a decorative frame containing the denomination both in numerals and in words: 50 złotych, "PIĘĆDZIESIĄT ZŁOTYCH". The vertical ornamental strips display the abbreviation of the Bank of Poland – "BP". At the bottom appears the serial number and series: SO 7946752. In the center is a stylized shield with the inscriptions: "Bank Polski", "PIĘĆDZIESIĄT ZŁOTYCH", the place and date of issue: WARSAWA D. 1 WRZEŚNIA 1929 R. (Warsaw, September 1, 1929), and three signatures – of the President of the Bank of Poland, Stanisław Karpiński, the Director, and the Treasurer of the Bank. To the left of the shield is an image of a peasant woman holding a sickle and a sheaf of grain; to the right – the god of commerce, Mercury, with a caduceus.
The reverse also features a decorative frame with the denomination “50” in numerals. Along the top horizontal band is the inscription: "BANK POLSKI". In the center, within a circular frame, are depictions of two buildings: to the left – the State Treasury, and to the right – the State Bank, both constructed in the 19th century on Bank Square in Warsaw. At the bottom is the coat of arms of the Republic of Poland. In rectangular frames: on the left – a statement declaring the Polish złoty as the sole legal tender, and on the right – a warning regarding punishment for counterfeiting currency.