Designed and engraved in 1935 but not printed until April 30, 1945, this note was completed at ZIN in Belgrade under circumstances that made any official release impossible — Germany had occupied Yugoslavia from April 1941, the Kingdom itself had ceased to function, and by the time the sheets came off the press, Tito's forces were days away from liberating the capital. The Narodna banka Kraljevine Jugoslavije, the issuing authority named on the face, had effectively ceased to exist as a functioning institution.
Engraver Veljko Andrejević Kun was one of ZIN's most accomplished craftsmen; designer Vasa Pomorišac collaborated with him on several interwar Yugoslav issues. The 1945 print run was almost certainly a bureaucratic or patriotic gesture rather than a practical monetary decision, which accounts for the note's consistent uncirculated state across all known examples.
Designed and engraved in 1935 but not printed until April 30, 1945, this note was completed at ZIN in Belgrade under circumstances that made any official release impossible — Germany had occupied Yugoslavia from April 1941, the Kingdom itself had ceased to function, and by the time the sheets came off the press, Tito's forces were days away from liberating the capital. The Narodna banka Kraljevine Jugoslavije, the issuing authority named on the face, had effectively ceased to exist as a functioning institution.
Engraver Veljko Andrejević Kun was one of ZIN's most accomplished craftsmen; designer Vasa Pomorišac collaborated with him on several interwar Yugoslav issues. The 1945 print run was almost certainly a bureaucratic or patriotic gesture rather than a practical monetary decision, which accounts for the note's consistent uncirculated state across all known examples.