1 Perper

Montenegro's decision to print its own emergency currency at Cetinje in 1914 was driven by the immediate financial pressures of the Balkan Wars' aftermath and the opening of the First World War. The Perper had only been established as Montenegro's monetary unit in 1906, so the currency itself was barely eight years old when this note was produced under wartime strain.

Printing at Cetinje rather than contracting a foreign security printer meant limited technical sophistication — the official stamp served as a primary authenticity control, a measure that invited forgery and made verification inconsistent in the field. Montenegro was overrun by Austro-Hungarian forces in January 1916, rendering the entire Perper emission effectively worthless within two years of this note's issue.