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20 Dinara Italian occupation - overprint: VERIFICATO

Issuer National Bank of the Kingdom of Yugoslavia
Year 1941
Type Standard circulation banknote
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Obverse description Central intaglio vignette of King Peter II of Yugoslavia as a young boy, set within an oval guilloche frame flanked by elaborate interlaced knotwork ornaments and rosette underprints. The Cyrillic inscription НАРОДНА БАНКА КРАЉЕВИНЕ ЈУГОСЛАВИЈЕ arcs across the top, with the denomination ДВАДЕСЕТ ДИНАРА in large Cyrillic lettering below; date 6 СЕПТЕМБАР 1936, БЕОГРАД and two facsimile signatures appear at lower left and right respectively. An Italian occupation circular control stamp reading VERIFICATO is applied in two locations on the face of the note.
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Reverse lettering P. STOJICEVIC FEC. VELJKO А. КUN SC.
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Comments

When Italian forces occupied parts of Yugoslavia in April 1941, they faced the immediate practical problem of what to do with existing Yugoslav currency. Rather than withdrawing and reprinting, occupation authorities simply overstamped circulating notes with "VERIFICATO" — verified — a rubber-stamp validation that effectively authorized continued use under Italian supervision. The 20 Dinara was among the denominations processed this way.

The overprint itself is the entire story here. Kun's engraving work for ZIN was competent interwar commercial plate work; nothing about the underlying note demanded special attention. What makes R11 collectible is purely the occupation stamp and its placement — off-center or faintly struck examples are common, a product of field-expedient stamping rather than controlled printing.

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