500 Dinara

Bosnia and Herzegovina declared independence in March 1992, and this note was issued almost immediately — using printing facilities in Belgrade, the capital of a state that was simultaneously arming the forces fighting against Bosnian sovereignty. The political contradiction embedded in that arrangement is hard to overstate. Within months, the National Bank of Bosnia and Herzegovina would lose access to Yugoslav printing infrastructure entirely, forcing a succession of emergency and provisional issues.

Hrvanović's dual credit as both designer and obverse engraver on P#1 is worth noting — relatively rare for a first national issue under such compressed circumstances.