5000 Leva

Bulgaria's postwar monetary situation was dire enough that by 1919 the government was issuing notes of this denomination to cope with inflation driven partly by war reparations obligations under the Treaty of Neuilly, signed that same November. The 5000 Leva was an enormous sum for domestic circulation at the time — the Bulgarian lev had shed most of its prewar purchasing power during the First World War, and large-denomination paper was a practical necessity rather than a prestige issue.

Pick 26D is a signature variety within the broader 1919 5000 Leva series; the lettered suffixes distinguish different cashier and governor signing combinations rather than separate print runs. Collectors frequently conflate the varieties, making accurate attribution worth verifying before purchase.