A New Era for Poland’s Currency

In 1995, following redenomination, the National Bank of Poland released a new series dated March 25, 1994 — the first issue of the modern złoty (PLN) replacing the old PLZ. Designed by Andrzej Heidrich, the series unified artistry, history, and security into one visual identity. The result was a family of notes that symbolized national renewal and set new standards for Polish banknote design.

Denominations and Designs

Each note features a portrait of a Polish ruler on the front, paired with architecture, heraldry, or symbolic scenes from their reign on the back.

Security Features of the 1994 Issue

• Watermark – a second portrait image embedded in the paper, visible when held to light.
• Security thread – a vertical metallic stripe woven through the paper for easy authentication.
• Microprint and raised intaglio printing that provide texture and fine detail.
• Complex guilloché patterns that prevent easy reproduction and define the background texture.
• UV elements – fluorescent fibers and inks visible under ultraviolet light.

What is a Specimen?

A Specimen (pattern or reference note) is a banknote printed for display, training, or testing purposes – never intended for circulation. Specimens can usually be identified by:

• a serial number of “0000000” with prefix AA, or more rarely prefixes such as AX, BB, or others (discussed later),
• for PWPW issues – the typical red overprint “WZÓR” on the obverse and “SPECIMEN” on the reverse,
• for TDLR (London) issues – a set of distinctive features, including:
  • red overprint “SPECIMEN” on both obverse and reverse,
  • red oval stamp “SPECIMEN OF NO VALUE / DE LA RUE”,
  • two round punch holes piercing the center of the note.
• an additional identifier – a specimen number – applied by the printer, usually in the lower left corner. On PWPW issues this appears as WZÓR Nr, and on TDLR issues as SPECIMEN Nº. These numbers were used to control and track distribution of specimens.
• print quality and security features identical to regular circulation notes.

Specimens from the 1994 issue are rare; they were distributed mainly to central banks, museums, and select institutions. On the collectors’ market they are highly sought after, especially in uncirculated (UNC) condition.

Behind the print run: The 1994 notes were designed in Poland, but the first sheets rolled off the presses in London. De La Rue underbid the Warsaw mint by more than 30%, and the National Bank quickly accepted. Time was short — redenomination was only approved in July 1994, but the new złoty had to enter circulation the following year. PWPW couldn’t meet the deadline alone, so Thomas De La Rue took on the job. They printed the entire A–B prefix runs and even part of the C series for the 50-złoty note. Back in Warsaw, production always restarted with DA, which is why the elusive “C” series is absent in most denominations — and in the case of the 50s, the run was cut off midstream.

Frequently Asked Questions

Why are 1994 specimens sought after?
They were printed in very small numbers for institutional use and most survived in pristine UNC condition. They capture the moment of Poland’s 1994 currency reform, making them both scarce and historically significant.

Are 1994 notes still legal tender?
Yes, they remain legal tender in Poland. For collectors, however, the focus is on UNC pieces and specimens, which hold far greater significance than circulated examples.

Is a specimen without overprint considered a variety?
Yes. Catalogues often group them broadly, but in grading and serious collections they are clearly distinguished as “Specimen – without overprint.” This distinction is recognized and adds weight to a collection.

How does grading affect these notes?
Grading certifies authenticity and condition, increases buyer confidence, and often brings a premium at auction. A top-pop slab can dramatically influence market perception.

What is the best way to store them?
Use archival holders or slabs, keep them in stable humidity and temperature, avoid UV light, and protect them from mechanical stress. Proper storage preserves grade and long-term value.

In short: scarcity, condition, and context are what drive lasting demand.

Prefix Distribution and Replacement Series

The table below shows the prefix distribution for all denominations of the 1994 series, divided between TDLR (London) and PWPW (Warsaw). In every denomination, Polish printing always started from the letter D , regardless of where London had finished.

In every denomination, PWPW started from prefix D ; the C series does not appear (exception: 50 zł – partial only at TDLR).

Replacement Series

Replacement series (so-called replacement notes ) were special print runs made to replace defective or damaged sheets of banknotes. Instead of repeating the same serial number, the printer marked them with separate prefixes. For the 1994 series the printer TDLR always used prefix ZA , while in PWPW new ones appeared – YA, YB, YC and so on.

Thanks to this it is easy to identify which examples belonged to “control” reprints. In practice replacement series are much rarer and valued by collectors, since their print runs were many times smaller than regular issues.

The table below presents a breakdown of replacement series for all denominations of the 1994 series – separately for TDLR and PWPW printing.

In short: TDLR used a single replacement series ZA for all denominations; PWPW introduced its own series ( YA, YB, YC… ), which further confirms a different logic of print control.

Printing in London (TDLR) and in Poland (PWPW)

The banknote series dated March 25, 1994 was printed both in London, at Thomas De La Rue & Company, Limited (TDLR), and in Poland, at the Polish Security Printing Works (PWPW) . Below is a simple comparison of the differences collectors focus on.

Example of All Known 10 zł Variants (1994 Issue)

Type System of the 1994 Issue — Illustrated with the 20-Złoty Note

In Miłczak’s catalog, the letters a, b, c, d identify circulation and replacement issues, while Wa, Wb, Wc denote specimen types. The perforated specimen presented here, Wd, does not appear in Miłczak’s listings — the designation is introduced by the author to continue the established sequence logically (Wa–Wb–Wc–Wd) and maintain consistency for future catalog reference.

The complete set of eight documented 20-złoty notes from the 1994 issue includes: 174a / CM#197a — circulation issue (a, TDLR), 174a / CM#197b — circulation issue (b, PWPW SA), 174a* / CM#197c — replacement issue (c, TDLR), 174a* / CM#197d — replacement issue (d, PWPW SA), 174s (Wa) / CM#197Wa — PWPW specimen “WZÓR,” 174as (Wb) / CM#197Wb — TDLR specimen with overprint and stamp, 174us (Wc) / CM#197Wc — approval specimen without overprints, 174ps (Wd) / CM#197Wd — perforated specimen (author’s classification).

Contact

Questions, contributions, or additional images and variants to add? Write to: info@1994.pl

Bibliography & sources

• Czesław Miłczak, Katalog banknotów polskich
• Standard Catalog of World Paper Money (Pick)
• NBP articles and materials
• Archival auctions: OneBid, Heritage, and others
• PMG publications ( Paper Money Guaranty )

This section is being expanded on an ongoing basis. Links to external sources will be added later.