20 Perpera - Nikola I

The 1910 date is not incidental. Nikola I proclaimed Montenegro a kingdom that year — elevating himself from prince to king — and commissioned this gold coinage as a direct assertion of that new royal status. The perpera series was itself only introduced in 1906, when Montenegro adopted its own decimal currency for the first time, having previously relied on Austro-Hungarian and Ottoman coinage in daily commerce.

Struck at the Paris Mint under contract, as Montenegro had no domestic minting capacity.