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10 000 Lei

Issuer Banca Nationala a Romaniei
Year 1994
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Currency Third leu (1952-2005)
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Obverse description Portrait of historian Nicolae Iorga (1871–1940) in intaglio at right, with the serpent deity Glykon vignette at centre set against a multicolour guilloche underprint. The Romanian state coat of arms appears at centre-left alongside the GUVERNATOR and CASIER CENTRAL signature panel, while the bank monogram is printed in red at upper left. Denomination numerals and the legend ZECE MII LEI appear at lower centre.
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Protection description Portrait watermark of Nicolae Iorga
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Comments

Romania's inflation through the early-to-mid 1990s was severe enough that a 10,000 Lei note — unthinkable under Ceaușescu's artificially suppressed price regime — had become a practical everyday denomination within just a few years of his 1989 execution. The note was not a sign of monetary collapse so much as a marker of how quickly the post-communist economy repriced itself once controls were lifted.

P#105 is the single-watermark iteration of this type; later high-denomination Romanian issues of the period added polymer substrates and more elaborate security threads, making this cotton-paper example the more straightforwardly produced of the family.

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