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50 Perpera

Issuer Glavna Državna Blagajna (Chief State Treasury of Montenegro)
Year 1914
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Size 162 x 108 mm
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Obverse description Printed in red on white paper, the obverse is framed by a rectangular outer border with small medallion vignettes at the corners and sides, enclosing a central panel within an oval guilloche border. The Cyrillic legend of the issuing authority heads the panel, beneath which the denomination ПЕДЕСЕТ ПЕРПЕРА appears in large Cyrillic lettering with the numeral 50 repeated in bold at left and right. The date of issue, Цетиње, 25. јула 1914, and two manuscript signatures with their official titles in smaller Cyrillic type appear in the lower portion of the panel.
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Reverse lettering КРАЉЕВИНА ЦРНАГОРА
ПЕДЕСЕТ ПЕРПЕРА
Упутница издана на основу закона од 25. јула 1914.
Правиле и противзаконе лажних упутница казниће се по §§ 145 и 146. кривичног закона.
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Comments

Montenegro's decision to print its own currency at Cetinje in 1914 was born of necessity — the country lacked access to major Western printing houses as war closed in. The Glavna Državna Blagajna had issued earlier perpera notes through more sophisticated arrangements, but by 1914 that was no longer possible. Domestic production meant simpler security, hence the reliance on underprint alone.

The perpera itself had only existed since 1906, pegged to the French franc at parity. This note was issued just months before Austro-Hungarian forces occupied Montenegro in early 1916, effectively ending the currency's practical life.

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