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| 正面描述 | State arms in an oval vignette at upper centre, flanked by intricate guilloche borders and ornamental corner pieces. The heading reads «ЦАРСТВО БЪЛГАРИЯ» (Kingdom of Bulgaria) in Cyrillic above, with the issuing authority «УПРАВЛЕНИЕ НА ДЪРЖАВНИТЕ И НА ГАРАНТИРАНИТЕ ОТ ДЪРЖАВАТА ДЪЛГОВЕ» below. The denomination «ЛЕВ 5.000 ПИДИ ПЕТ ХИЛЯДИ» appears in large bold letterpress script across the lower portion of the face, with manuscript signatures of the Director and Cashier of the Bulgarian National Bank. |
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| 背面铭文 | ИЗДАДЕНЪ ВЪЗЪ ОСНОВА: Стойност ДЪРЖАВНИ СЪКРОВИЩНИ БОНОВЕ ПРИ 5% ЛИХВА ЗА ИЗТЕКЛО ВРЕМЕ ЗА ПОДПРАВКА ВИНОВНИТЕ СЕ НАКАЗВАТ СЪГЛАСНО ЧЛ. 183 И 191 ОТЪ НАКАЗАТЕЛНИЯ ЗАКОНЪ |
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Bulgaria emerged from the First World War on the losing side, stripped of territory by the 1919 Treaty of Neuilly and saddled with reparations it could not pay. The 1922 high-denomination notes were a direct response to the inflation that followed — 5000 Leva had been an unthinkable face value a decade earlier.
Giesecke & Devrient had supplied Bulgarian banknote printing since before the war, and the relationship continued uninterrupted despite the political upheaval. The Leipzig connection was purely logistical; Bulgaria lacked a domestic security printing facility of sufficient capability.
P#28 is among the scarcer issues of the interwar Bulgarian series — the high denomination meant limited print runs relative to smaller notes.