1 Perper

Montenegro printed its own currency domestically at Cetinje — an unusual step for a small state that had previously relied on foreign presses. The 1914 issue came as the country mobilized for the Second Balkan War's aftermath and the opening of the First World War simultaneously, placing extraordinary strain on the treasury. Printing locally gave the government speed but sacrificed the security features that western European printers routinely incorporated.

The Perper series of 1914 is notably prone to foxing and paper degradation, a known consequence of the lower-grade stock used under wartime conditions at Cetinje.