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20 Perpera
| Issuer | Glavna Državna Blagajna (Main State Treasury) of Montenegro |
|---|---|
| Year | 1914 |
| Type | Log in to see details |
| Value | 20 Perpera |
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| Composition | Log in to see details |
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| Obverse description | Brown note enclosed by an elaborate ornamental border of scrollwork and foliate arabesques. The royal coat of arms of Montenegro occupies the upper-left vignette, while the denomination numeral 20 appears in the upper-right cartouche; the central field carries the Cyrillic treasury obligation legend and denomination text ДВАДЕСЕТ ПЕРПЕРА beneath the serial number. Two manuscript signature lines at the lower centre are attributed to the President of the Main State Treasury and the Minister of Finance, with the issue date Cetinje, 25 July 1914 inscribed below. |
|---|---|
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| Protection type | Official stamp |
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| Comments |
Montenegro is one of the very few states in history to have printed its own banknotes domestically during a major conflict. The Glavna Državna Blagajna issued this series in 1914 as Austro-Hungarian forces closed in, using local printing facilities in Cetinje rather than any established security printer. The result is rudimentary by European standards of the period — the official stamp serving as the primary authentication device in the absence of sophisticated anti-counterfeiting technology.
Montenegro capitulated in January 1916. Notes from this emission had an extremely brief window of legitimate circulation before the occupation rendered them effectively worthless.