5 Perpera

Montenegro's 1914 emergency issue was produced under extreme pressure — Austria-Hungary declared war in late July, and the Montenegrin government needed circulating paper almost immediately. The Glavna Državna Blagajna had no access to professional security printers in Vienna or elsewhere, so these notes were produced domestically in Cetinje using whatever press capacity was available. That origin explains the comparatively crude execution relative to the kingdom's earlier issues.

The official stamp served as the primary anti-counterfeiting measure, applied by hand after printing — meaning unstamped examples exist and are considered unissued. Condition on circulated survivors is typically poor; the paper stock used in 1914 was not archival quality, and Montenegro's subsequent occupation by Austro-Hungarian forces in January 1916 cut the note's effective circulation life short.