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1 Perper
| Issuer | Glavna Državna Blagajna (Main State Treasury) of Montenegro |
|---|---|
| Year | 1914-1915 |
| Type | Standard circulation banknote |
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| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse lettering | КРАЉЕВИНА ЦРНАГОРА ЈЕДАН ПЕРПЕР Упутница издана на основу закона од 25. јула 1914. Прављење и протурање лажних упутница казниће се по §. §. 145 и 146. кривичног закона. (Translation: Kingdom of Montenegro ONE PERPER Order issued on the basis of the law of 25 July 1914. Creating and circulating counterfeit banknotes will be punished according to §. 145 and 146 of the Criminal Code.) |
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| Protection type | Typographic underprint |
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| Comments |
Montenegro's decision to issue its own paper currency in 1914 was driven by the near-total collapse of coin circulation following mobilization — silver and gold were being hoarded or disappearing into troop payments almost immediately. The Glavna Državna Blagajna had no central bank infrastructure behind it, which is precisely why these notes carry treasury rather than banking authority.
Over twelve million printed for a country with a population under 300,000. The oversupply relative to population, combined with the Austrian occupation beginning in early 1916, left enormous quantities unredeemed.