10 000 Lei

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.