The Commemorative Issue of Perper




On the territory of the nowadays Montenegro money was coined in the second century before the new era. The city of Risan was the first, and it coined the Illyrian money. Roman and Byzantine money circulated in Prevalis.  In the later period medieval towns of Bar, Ulcinj, Svac, Kotor and Budva continued to mint their own money. In thirteen century, town Mojkovac minted »grossi de Brescoa«. Finally, in the fourteenth century, the family Balsic minted eleven types of money.

The history of money minting in Montenegro was continued in 1851 at the encounter of Njegos and banker Carl Rotschield. Njegos initiated preparations for the money called perun, that was named after the »supreme God« of the old Slavs. Unfortunately, the project was not fruitful and the only remaining proof on their plans is the print of perun in the red wax.


Money of the Principality of Montenegro 

Prince Nikola continued with the idea initiated by Njegos and Rotschield.  Montenegro, recognized as sovereign and independent state, started issuing its own money, first as the Principality, and later on as the Kingdom. The money was called Perper (in Greek: hyperperos), meaning »refined«.


Gold money of the Principality of Montenegro was minted in denominationsof 100, 20 and 10 Perpers.


Silver money of the Principality was minted in denomintions of  5, 2  and 1 Perpers.


One Perper consisted of 100 paras. Paras were minted of nickel and alloy of copper and zinc in denominations of  20, 10, 2 and 1 paras.


In total there were eight issues of coins of copper, nickel, silver and gold and three issues of  paper money. The entire metal money was minted in Vienna, except for one issue of silver coins which was minted  in  Paris. Paper money was printed in Prague, Cetinje and  Paris.


Money of the Kingdom of Montenegro


Like Money of the Principality, the money of the kingdom was minted of gold, silver, nickel and alloy of  zincand copper. Denominations of that money were the same as in the principality: 100, 20 and 10 Perpers in gold, 5, 2 and 1 Perpers in silver, 20, 10, 2 and 1 paras in nickel and alloy of copper and zinc.





These commemorative coins of Perper were minted on the occasion of the first anniversary of the foundation of the Central Bank of Montenegro. It is our pleasure to issue them in the decade that celebrates the 100 anniversary of the first minting. They bear the inscription 2002 and represent the reproduction of the money of Principality  and Kingdom of Montenegro.