Kings, wars and one of the worst hyperinflations in history, all of it readable from Yugoslav paper. Here are my five favourites.
In its seventy or so years, Yugoslavia went through kings, wars, socialism and one of the worst hyperinflations in history. And all of it, believe it or not, can be read from its banknotes. That is why they are so rewarding to collect: they are affordable, they are everywhere, and each one carries a piece of the story. Here are five that I would want first in my album if I were starting over.
500 billion dinars (1993)
Let us start with the one that always gets a reaction when you show it to someone outside the hobby. Half a trillion dinars on a single slip of paper, and by the end of 1993 it was barely enough for a loaf of bread. The design is modest, but the point is the number. It is affordable and perfect for telling the story of how money can lose all meaning.
1000 dinars (1981)
For me personally, the most beautiful Yugoslav banknote. A woman in folk costume on the face, a panorama of Dubrovnik on the back, all executed in that fine engraving technique you no longer see anywhere today. In good condition it is still inexpensive, and in an album it looks like a small work of graphic art.
100 dinars (1929)
A leap back, into the Kingdom. An elegant art deco design, text in three languages, an allegorical female figure. Well preserved examples are not common, and that is exactly why they are dear to collectors who love pre-war issues. This is the banknote that suddenly makes a collection feel serious.
50,000 dinars (1988)
Interesting because it is a turning point: the last normal issue before inflation took off without brakes. Still quality printing, decent paper. Everything after it was printed ever cheaper and faster, so this one is a kind of last polite farewell.
10 dinars (1944)
And to finish, the one with the most weight. Issued in the middle of the Second World War, on liberated territory, while the new state was still taking shape. The design is almost ascetic, but historically it is hard to find a banknote that says so much. Originals in good condition are sought after and not cheap.
And if you grew up in this part of the world, these banknotes carry something personal too; many people remember them from their parents' wallets. That is the part of collecting that cannot be measured in euros.