10 Perpera

Montenegro's treasury notes of 1914 were produced domestically — a significant constraint. Cetinje had no commercial security printer, and the results reflect that: the notes were printed on whatever stock was available, and authentication relied on an official stamp rather than any embedded technical security. Collectors should expect irregularity in stamping position and ink density across surviving examples; this is characteristic of the series, not a defect specific to individual notes.

Montenegro was at war within months of this note's issue, occupied by Austria-Hungary by early 1916. Much of the circulating paper currency was rendered worthless or confiscated, which accounts for the relative scarcity of worn, genuinely circulated examples from this series.