2 Perpera

Montenegro's Glavna Državna Blagajna — the Main State Treasury — issued these treasury notes in 1914 as the country mobilized for the First Balkan War's aftermath and the looming catastrophe of the Great War. Printing in Cetinje rather than contracting a foreign security printer was a practical necessity for a state with limited financial infrastructure, not a deliberate policy choice.

The sole security feature, an official stamp, reflects that constraint bluntly. Authentication depended entirely on bureaucratic control of the stamp itself.