20 Dinara

Printed at the Oslobođenje facility in Sarajevo during the opening months of the siege, this note is one of the more historically charged pieces of Yugoslav successor currency. Oslobođenje — the press that normally produced the newspaper of the same name — continued operating under shellfire and became something of a symbol of resistance. That the newly declared republic's currency came off those same presses is not incidental.

The paper quality reflects the conditions. Wartime supply constraints meant inconsistent stock, and surviving examples vary noticeably in texture and tint. Bosnia's entire 1992 emission was emergency issue — the republic had declared independence in March, the siege began in April, and these notes were circulating before any stable monetary infrastructure existed.