5000 Denari

Macedonia's first banknote series arrived in 1992 following the country's peaceful secession from Yugoslavia, and the 5000 Denari occupied the highest denomination in that inaugural set. The new denar replaced the Yugoslav dinar at par, but hyperinflationary pressure from the Yugoslav economy had already eroded purchasing power so severely that even this top denomination was worth very little in real terms at the time of issue.

The series was printed by the French Security Printing firm Oberthur, which handled several post-Yugoslav successor state issues during this period. P#7 is the scarcest of the 1992 denominations in uncirculated condition — high-value notes from this series moved quickly and rarely came back clean.