20 Dinara

Printed at Dom Štampe in Zenica while the city itself was under siege conditions during the Bosnian War, this note is one of the few examples in modern European numismatics of a currency produced entirely within an active conflict zone. The National Bank of Bosnia and Herzegovina was issuing convertible marka precursors under extraordinary logistical constraints — paper supply, ink, and distribution were all compromised at various points during 1994.

The watermark is the sole security feature, a notable limitation that made counterfeiting a genuine operational concern during the war years.