5 German Marks Coupon Republika Bosna i Hercegovina, Okrug Bihać

The Bihać pocket — the enclave held by the 5th Corps of the Army of Bosnia and Herzegovina — was under near-continuous siege from 1992 onward, cut off from the rest of Bosniak-controlled territory and surrounded by both Bosnian Serb and Krajina Serb forces. By 1994 the enclave had essentially no access to the official Bosnian currency supply. Local authorities in the Bihać district improvised: coupons denominated in German Marks, a currency that carried credibility even when the issuing authority had none of the reserves to back the peg.

These were functional scrip, not a monetary experiment. The DEM denomination was chosen because German Marks were the dominant hard-currency reference across the former Yugoslavia, not because the district held any significant DEM reserves.