Switzerland Banknotes: History, Design Series and Collecting Guide
Switzerland treats its paper money as a national design project. Since 1907 the Swiss National Bank has commissioned nine banknote series from leading Swiss artists and designers, kept two of them secret as reserves, and won back-to-back international honors for the vertical notes in circulation today. Few countries reward a design-minded collector like this one.
Last updated: July 2026
The Swiss franc is the official currency of Switzerland, and its banknotes have been issued by the Swiss National Bank since 1907. The franc, ISO code CHF, divides into 100 centimes, called Rappen in German-speaking Switzerland, and it is also legal tender in neighboring Liechtenstein. For collectors, Swiss paper money is less about turbulence and more about craft: nine numbered design series, two of them printed in secret and never issued, an award-winning vertical series in wallets today, and an exchange rule that gives every modern Swiss note a permanent face-value floor. This guide walks through the history, the series, and how to collect them.
What is the history of the Swiss franc and the Swiss National Bank?
Switzerland has used the franc as its federal currency since 1850, but for the rest of the 19th century its banknotes came from a crowd of competing cantonal and commercial banks of issue. That ended with the Swiss National Bank, founded under the National Bank Act of 6 October 1905. The SNB opened its counters on 20 June 1907 and took over the country's note issue. According to the SNB, there was not enough time to create new designs before opening day, so the first notes were interim notes, printed to the pattern of the earlier banks of issue with a red rosette bearing the Swiss cross overprinted on them. Proper SNB designs followed in 1911, and roughly once a generation since, the bank has commissioned a fresh series from prominent Swiss artists and graphic designers.
What are the nine Swiss banknote design series?
The Swiss National Bank counts nine banknote series since 1907. Seven circulated, and two, the fourth of 1938 and the seventh of 1984, were reserve series printed as backups against counterfeiting emergencies and never issued. The table below sketches each series and where it stands today.
| Series | Issued | What defines it | Status today |
|---|---|---|---|
| First | 1907 | Interim notes, older bank designs overprinted with a red Swiss cross rosette | Demonetized, collector value only |
| Second | 1911 | First true SNB designs, including work by painter Ferdinand Hodler | Demonetized, collector value only |
| Third | 1918 | Wartime series, only partly released into circulation | Demonetized, collector value only |
| Fourth | Never | Reserve series printed in 1938 as a backup | Never circulated |
| Fifth | 1956 | Postwar series pairing portraits with cultural and allegorical scenes | Demonetized in 2000, collector value only |
| Sixth | 1976 | Portrait series by designers Ernst and Ursula Hiestand | Recalled 2000, exchangeable at the SNB indefinitely |
| Seventh | Never | Secret reserve series designed in 1984, never issued | Never circulated |
| Eighth | 1995 | Vertical series by Jörg Zintzmeyer honoring cultural figures such as Le Corbusier and Alberto Giacometti | Recalled 30 April 2021, exchangeable at the SNB indefinitely |
| Ninth | 2016 to 2019 | "The many facets of Switzerland" by Manuela Pfrunder | Current legal tender |
The current ninth series abandoned portraits altogether. Each of its six denominations, from 10 to 1,000 francs with no 500, is built around a Swiss quality such as time, creativity, or wind, expressed through a hand, a globe, and a location. The notes are printed by Orell Füssli on Durasafe, a three-layer substrate that sandwiches a polymer core between two layers of cotton paper.
Which Swiss banknotes won Bank Note of the Year?
Two ninth-series notes, in consecutive years. The International Bank Note Society named the green vertical 50 franc note, issued on 12 April 2016 with its dandelion seeds and mountain paraglider, the IBNS Bank Note of the Year for 2016. The following year the yellow 10 franc note, issued on 18 October 2017 and built around time and Switzerland's famously punctual railways, took the 2017 award, making Switzerland a rare back-to-back winner of the hobby's best-known design prize. That is the strongest independent endorsement a circulating banknote design can earn, and it is a large part of why modern Swiss notes have a collector following far beyond Switzerland.
Can old Swiss banknotes still be exchanged?
It depends on the series, and the rule changed recently. Recalled Swiss notes could historically be exchanged for only 20 years before becoming worthless. In June 2019 the Swiss parliament abolished that time limit, and according to the Swiss National Bank, since 1 January 2020 banknotes from the sixth series of 1976 onward can be exchanged at the SNB for current notes at full face value with no deadline. So the sixth series, recalled on 1 May 2000, and the eighth series, recalled on 30 April 2021, are no longer legal tender but never expire as claims on the SNB. Notes from the fifth series and earlier missed that cutoff; the fifth series was fully demonetized on 1 May 2000, and those earlier notes now trade purely on collector value. For a collector this is unusually friendly: an eighth-series Giacometti note can never be worth less than its face value.
Why are Swiss banknotes design collectibles, and how do you start?
Swiss notes are collected the way people collect posters or prints: for the design itself. The ingredients are a central bank that runs design competitions among top Swiss artists, near-legendary production quality, the vertical format the eighth and ninth series made a Swiss signature, and two IBNS awards in a row. A satisfying starter set is one note from each circulated series you can afford, or a full six-note ninth series set kept in uncirculated condition. High-grade sixth and eighth series notes are often certified by PMG or PCGS on the 1 to 70 scale; our banknote grading guide explains those numbers, and the banknote glossary defines terms like replacement note and specimen. The 1,000 franc note, one of the highest-value banknotes in general circulation anywhere in the world, sits at the deep end; see our most valuable world banknotes guide for where it fits.
Where can you buy Swiss banknotes?
Buy from a source-first dealer that documents where its notes come from and stands behind authenticity in writing. Because inventory changes constantly, start from Planet Banknote's full country directory and browse what is in stock today:
Every note passes our Planet Banknote Verified inspection and ships with a free Certificate of Authenticity, so whichever Swiss series you chase, you have documented recourse tied to a named, reachable business.
Frequently asked questions
What currency does Switzerland use?
Switzerland uses the Swiss franc, ISO code CHF, divided into 100 centimes, called Rappen in German-speaking Switzerland. Banknotes are issued by the Swiss National Bank, which has held the note monopoly since it opened in 1907, and the franc is also legal tender in neighboring Liechtenstein. The notes in circulation today belong to the ninth series, issued between 2016 and 2019.
How many Swiss banknote series are there?
The Swiss National Bank has created nine banknote series since 1907. Seven of them circulated, while the fourth series of 1938 and the seventh series of 1984 were reserve series that were printed as backups and never issued, according to the SNB. The ninth series, released between 2016 and 2019, is the only series that is legal tender today.
Which Swiss banknote won Bank Note of the Year?
Two of them, in consecutive years. The International Bank Note Society named the vertical green 50 franc note its Bank Note of the Year for 2016, and the yellow 10 franc note won the same award for 2017. Both belong to the ninth series designed by Manuela Pfrunder, making Switzerland a back-to-back winner of the hobby's best-known design award.
Can old Swiss banknotes still be exchanged?
It depends on the series. Since 1 January 2020, banknotes from the sixth series of 1976 onward can be exchanged at the Swiss National Bank for current notes at full face value with no time limit. That covers the recalled sixth and eighth series. Notes from the fifth series and earlier lost their exchange value years ago, so they now trade purely as collectibles.
Is the 1,000 Swiss franc note still in use?
Yes. The ninth series 1,000 franc note was issued on 13 March 2019 and remains legal tender, making it one of the highest-value banknotes in general circulation anywhere in the world. Switzerland no longer issues a 500 franc note; that denomination last appeared in the sixth series and was succeeded by the 200 franc note introduced with the eighth series.
Planet Banknote is a family-owned dealership in Sarasota, Florida, founded in 2021. Every note is sourced direct from mints, central banks, and authorized distributors, inspected through our Planet Banknote Verified process, and ships with a free Certificate of Authenticity. US orders ship free via USPS Priority, and every order includes a free bonus gift.