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| 正面描述 | 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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| 背面铭文 | EESTI VABARIIGI KASSATÄHT 5 PENNI 5 |
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| 防伪类型 | 登录 以查看详情 |
| 防伪描述 | 登录 以查看详情 |
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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.