20 Dinara 1st coat of arms

Serbia introduced its own national banknote series after the dissolution of the State Union of Serbia and Montenegro in June 2006 — this note belongs to that initial post-union emission. ZIN at Topčider has produced Serbian currency since the interwar period, and the 2006 series marked the first time the institution printed notes under a fully independent Serbian central bank mandate rather than a federal or union authority.

The "1st coat of arms" designation in collector nomenclature distinguishes this type from a later revision; the change was driven by Serbia's evolving constitutional status following Kosovo's 2008 declaration of independence.