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50 Perpera
| Issuer | Glavna Državna Blagajna (Main State Treasury of Montenegro) |
|---|---|
| Year | 1914 |
| Type | Standard circulation banknote |
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| Obverse description | Brown on light brown underprint. A single black serial number appears at upper left, flanked by the denomination numeral. The Coat of Arms of Montenegro is centered with the issue date below, and two manuscript signatures of the responsible officials appear along the lower margin. |
|---|---|
| Obverse lettering | Главна Државна Благајна исплатиће доносиоцу упутнице 50 ПЕДЕСЕТ ПЕРПЕРА 50 Серија А. Бр. 3610 50 ПЕДЕСЕТ ПЕРПЕРА 50 Вриједи за годинy дана. Цетиње, 25. јула 1914. Предсједник Главне Државне Контроле, Министар Финансија, 50 50 |
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| Comments |
Montenegro's treasury notes of 1914 were issued under wartime fiscal pressure, with the country already mobilized following the Balkan Wars and on the verge of being drawn into the broader European conflict. The Glavna Državna Blagajna had no central bank behind it — these notes were direct state obligations, backed by nothing more than the government's promise to redeem them at a future date that, for many holders, never arrived.
By late 1916, Austro-Hungarian occupation had effectively ended Montenegrin monetary authority. Notes outstanding at that point became worthless in practical terms, and redemption after the war was incomplete at best.