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| 表面の説明 | The entire face is occupied by a bold stylized vignette printed in green, rendered in a folk-art woodcut manner. A central owl motif, its round eyes visible at the top, is flanked symmetrically by two highly stylized conifer trees composed of geometric chevron and line patterns. The denomination numeral '5' appears in large characters at the upper left and upper right corners, with the inscription 'PENNI' below each numeral. |
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| 表面の銘文 | ログイン して詳細を見る |
| 裏面の説明 | The reverse is printed in light green on plain paper, with an overall geometric underprint of repeating stylized triangular tree motifs covering the entire field. A central unframed panel carries the three-line text inscription identifying this note as a state treasury note of the Estonian Republic, with the denomination stated below. |
| 裏面の銘文 | ログイン して詳細を見る |
| 署名 | ログイン して詳細を見る |
| 偽造防止技術 | ログイン して詳細を見る |
| 偽造防止の説明 | ログイン して詳細を見る |
| バリエーション | ログイン して詳細を見る |
| コメント |
Estonia's first domestic currency issue came in the chaos immediately following independence, with the Ministry of Finance — not a central bank, which didn't yet exist — acting as direct issuer. The penni denominations were rushed into production to fill a genuine void left by the collapse of Tsarist ruble circulation and the sudden worthlessness of provisional Kerensky notes.
P#39 is among the smallest-denomination notes of this inaugural series. At this size, the notes wore out fast in daily use, and survivors in any decent state are correspondingly scarce.