5 Perpera - Nikola I Golden Jubilee; Kingdom restrike

Montenegro issued this piece decades after the monarchy ceased to exist — the kingdom fell in 1918 when Montenegro was absorbed into the newly formed Kingdom of Serbs, Croats and Slovenes, ending Nikola I's reign after 58 years on the throne. The original 5 Perpera gold jubilee coin dated to 1910, commemorating fifty years of his rule. This silver restrike, produced in the early 2000s well into the Federal Republic of Yugoslavia's dissolution period, has no monetary function and was aimed squarely at the collector market during a moment of renewed Montenegrin national sentiment preceding the 2006 independence referendum.