50 Cupon

Moldova's first issued banknote, released in the months following independence as a transitional instrument before the permanent leu was ready. The term "cupon" — coupon — was deliberate: these were never intended as a proper currency, but as ration-linked payment slips designed to prevent Russian rubles from being used to drain Moldovan goods across the border during the supply crisis of 1991–92.

The guilloche underprint was essentially the only security measure the rapid production schedule allowed. Twelve million-plus printed, most circulated heavily and were retired quickly once the leu launched in 1993.