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50 Perpera

Issuer Glavna Državna Blagajna (Main State Treasury of Montenegro)
Year 1914
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Value 50 Perpera
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Obverse description Red-on-pale design with an elaborate oval guilloche border framing the central text area. The large numeral '50' appears at left and right in bold letterpress, with two putti flanking a central vignette at the top of the border, and an allegorical group of two female figures with a bull at the lower centre. Serial number and date 'Cetinje, 25. јула 1914.' appear within the text panel, with two manuscript signatures below representing the President of the Main State Control and the Minister of Finance.
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Reverse description The reverse is printed in red with a dense all-over letterpress underprint of the repeated legend 'КРАЉЕВИНА ЦРНАГОРА' forming the background across the entire field. At centre, the royal coat of arms of Montenegro is printed in a slightly deeper red, flanked by the numeral '50' at each corner. The denomination 'ПЕДЕСЕТ ПЕРПЕРА' is set in large Cyrillic capitals below the heading 'КРАЉЕВИНА ЦРНАГОРА', with a legal penalty clause in smaller text at the foot.
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Comments

Montenegro's Glavna Državna Blagajna issued this note in 1914, the same year the kingdom was pulled into the First World War following the assassination at Sarajevo. Printing domestically in Cetinje rather than contracting a specialist European firm was a practical necessity — wartime conditions made foreign commissions difficult — but it came at a cost to production quality. The locally printed notes are noticeably cruder than earlier Montenegrin issues handled by outside printers.

Montenegro was overrun by Austro-Hungarian forces in early 1916, and much of this issue never completed normal circulation. The occupation rendered the currency worthless almost immediately after issue.

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