20 Bani - Carol I

Romania's copper-nickel coinage of this period was produced under a monetary arrangement tied closely to the Latin Monetary Union, which Romania had aligned with — though never formally joined — since the 1860s. The 20 Bani denomination saw its composition shifted to copper-nickel from earlier silver-content issues as part of a broader European trend toward base-metal subsidiary coinage in the late nineteenth and early twentieth centuries.

KM#33 was struck at the Brussels mint, which handled much of Romania's coinage production during Carol I's reign given the country's lack of a functioning domestic mint at the time.