Throughout the entire history of Yugoslav money, the 25 para banknote from 1921 represents the smallest paper money denomination that pre-war Yugoslavia (Kingdom of SCS) ever issued. The amount of 25 paras back then was equal to a quarter of a dinar.
The decision to produce this banknote was made on March 3, 1921, when 25-para metal coins were already in circulation (since December 1920). However, it seems there were not enough of them to meet the needs of money circulation, as stated in the official explanation for the creation of the denomination (as part of the Minister of Finance's decree of June 18, 1921, on putting it into circulation). The second officially stated reason was the need to use it to replace properly stamped 1- and 2-krone notes and properly marked 10-krone notes (in the Law on Banknote Printing passed on December 31, 1921).
The decision of the Ministerial Council on the issuance of the banknote was not officially published, but it is mentioned as the legal basis for passing the decision of the Minister of Finance on putting the banknote into circulation. The unpublished decision of the Ministerial Council was later replaced by the Law on Printing Banknotes of 1/4 Dinar and the Exchange of Austro-Hungarian Bank Banknotes of 1, 2, and 10 Korunas.
Description of the 25 para coin from 1921.
The description of this banknote was first provided in the decision of the Minister of Finance on its release into circulation. That detailed description has been shortened for the purposes of this text, and its summary follows:
The surface area of the banknote is 92 x 62 mm. The entire face and back of the banknote are covered with various ornaments in light colors—on the face in a greenish-gray color, and on the back in a chamois color. These ornaments are clearly visible on the edges of the face and back, and on the face, drawings of two children's heads are additionally visible in the same light color.
On the front of the banknote, over the basic ornamentation, within a 79 x 51 mm rectangle, is a drawing of the Gračanica monastery in dark blue. On the front of the banknote there are also fields with the stated denomination values in light blue text.
Above the drawing is the text:
“MINISTRY OF FINANCE OF THE KINGDOM OF SERBS, CROATS AND SLOVENES / MINISTRY OF FINANCE OF THE KINGDOM OF SERBS, CROATS AND SLOVENES / MINISTRY OF FINANCE OF THE KINGDOM OF SERBS, CROATS AND SLOVENES”, and below the drawing of the Gračanica monastery it says: “IN BELGRADE ON MARCH 21, 1921 / MINISTER OF FINANCE / Dr. Kosta Kumanudi”, along with a handwritten signature.
Denomination markings in a lighter color are located on dark blue fields. In the upper left corner is „25 PARA” (in Cyrillic), in the upper right corner „25 PARA” (in Latin), in the lower left corner „1/4 DINARA” (in Cyrillic), in the lower right corner „1/4 DINARA” (in Latin). In the middle of the lower edge on the obverse of the banknote is the author's note: “Izradio M. D. Đurić”.
Otherwise, Croatian painter and art educator Miljenko Đurić (Zemun 1894 – Zagreb 1945) was educated at the School of Arts and Crafts in Zagreb, and then studied at the Academy of Fine Arts in Prague. From 1918, Đurić worked as a professor of decorative painting at the Vocational School in Zagreb. He worked in oil, watercolor, and various graphic techniques (etching, woodcut).
On the back of the banknote, over the base ornaments, in a rectangle measuring 80 x 51 mm, drawings and denomination marks are printed. On the left half, there is a drawing of the church located on the island in Lake Bled, and on the right side, a drawing of the monument of Ban Jelačić in Zagreb. The denomination marks appear to be printed in a base chamois color on a dark background. The value – „1/4” – is located in vertical oval frames on the left and right sides, while the word „DINARA” (written in Cyrillic) is in the upper half, and the word „DINARA” (written in Latin script) is on the lower edge of the darker rectangle. In the middle of the lower edge, written in Latin script, is: “Grave par M. D. Giurić”.
Production and circulation of the 25 para banknote from 1921.
Under the previously mentioned Law, the Minister of Finance is authorized to select the most favorable printing office or institution for the production of banknotes, specifically in the amount of 200 million pieces (with a nominal value of 50 million dinars). Of these produced banknotes, the Ministry of Finance received 199,127,376 pieces—of which 140,000,000 pieces came from Zagreb and 59,127,376 pieces from Novi Sad.
This state banknote was put into circulation on June 14, 1921, when it became a mandatory and legally recognized means of payment.
It is an interesting fact that the minister, even before the banknote was put into circulation, stipulated that in a single payment no one was obligated to accept more than 10 dinars (40 crowns) in 1/4 dinar (1 crown) banknotes, even though such a dinar-crown banknote did not yet exist.
It is not known when exactly the withdrawal of this banknote from circulation began. It could be assumed that this happened in 1925, when the withdrawal from circulation of two small dinar-krone banknotes of 1/2 and 1 dinar also began. It is known, however, that the Minister of Finance by his decree prescribed that the remainder of the state paper money of 1, 0.50, and 0.25 dinars be withdrawn from circulation by September 30, 1927, and decided to replace it with metal coins. After that date, state paper money that was not exchanged on time completely lost its value.
Source: Monetalis.hr – purchase of numismatics and decorations [www.monetalis.hr]
Photos: Coins, Banknotes & Militaria Store [www.cbm-store.com]
