10 Para Emergency Postage Stamp Currency

Serbia's 1915 collapse under combined Austro-Hungarian and Bulgarian pressure forced the government into one of the more desperate currency expedients of the First World War. With no time or infrastructure to print orthodox banknotes, existing postage stamps were mounted on small cardboard or paper backing and placed into circulation as fractional currency — a practice Serbia shared with several belligerents during the war, but rarely in such dire military circumstances.

The retreating Serbian army and government crossed Albania on foot that winter. Notes from this issue that survived did so largely outside Serbia itself.