200 Lei - Mihai I

Romania's wartime coinage by 1945 was being issued under conditions of near-total economic collapse. The country had switched sides in August 1944, and the Soviet occupation that followed brought immediate monetary disruption — inflation was accelerating rapidly, and nickel brass was already a concession to metal shortages that had been degrading Romanian coinage since the early war years. Mihai I was nominally king but increasingly powerless, and within three years the communists would force his abdication at gunpoint on December 30, 1947.