1 Konvertibilna Marka Not issued

The convertible mark was introduced in 1998 as part of the monetary architecture established under the Dayton Agreement, replacing the Bosnian dinar at parity with the German mark — a deliberate political anchor designed to build credibility through external discipline rather than domestic monetary policy. The currency board arrangement meant the Central Bank had almost no discretionary authority; it could issue only what hard currency reserves backed.

This Oberthur-printed 1 KM was prepared but never released into circulation. Low-denomination notes of this type are often casualties of cost-benefit calculations — the expense of printing, distributing, and replacing paper notes at the 1 KM level rarely justifies itself when coins can absorb that function.