20 dinara 1944

Common. This note, while historically significant, was issued during an active wartime period and appears to have had a substantial print run. eBay market data shows consistent sales ranging from $1-$20 for circulated examples, with UNC specimens reaching approximately $50 according to 2016 catalog values. The regular appearance of these notes on the secondary market at moderate prices, combined with the lack of any special scarcity markers (no known overprints, recalls, or short-run designations), indicates this is a readily available note for collectors. The UNC condition grade is valued but not exceptionally scarce for this denomination and year.

This banknote was issued in 1944 by the Democratic Federal Republic of Yugoslavia during the critical final year of World War II, when partisan forces under Tito were consolidating control over Yugoslav territory. The portrait depicts a partisan soldier (identified in some sources as Milivoje Rodić, later a colonel in the Yugoslav army), symbolizing the partisan military movement's central role in Yugoslavia's wartime governance. The coat of arms featuring the red star and flame design represents the socialist federation that would formally establish itself in 1945, making this note a transitional currency between occupation and communist rule.

The obverse features an ornately framed portrait of a male partisan soldier in military uniform, shown in left-facing profile within an oval medallion frame, positioned on the right side of the note. The soldier wears a peaked military cap typical of Yugoslav partisan uniforms. The background consists of intricate geometric and scrollwork decorative borders with repeating baroque-style patterns. The reverse displays the coat of arms of the Democratic Federal Yugoslavia—a shield design incorporating a red star at the apex and a flame motif, flanked by wheat wreaths symbolizing agricultural prosperity. The denomination '20' appears prominently on both sides, with the full state name 'Demokratska Federativna Jugoslavija' displayed in both Cyrillic and Latin scripts on the reverse. The entire design employs fine-line engraving with meticulous attention to detail in the ornamental elements.

FRONT SIDE: 'DINARA DINARA' / 'DINARJEV DINARI' (Dinars, in Cyrillic and Latin scripts); Serial number 'JJ272568'; 'FALSIFIKOVANJE SE KAZNAVA PO ZAKONU' (Cyrillic: Counterfeiting is punishable by law); 'FALSIFIKAT SE KAZNJUJE PO ZAKONU' (Latin: Counterfeiting is punishable by law); 'KALUTUIRANJE SE KAZNAVA PO ZAKONU' (Cyrillic variant: Counterfeiting is punishable by law); Denomination '20'. BACK SIDE: 'DINARA DINARI' / 'DINARJEV DINAREV' (Dinars, in Cyrillic and Latin scripts); 'DEMOKRATSKA FEDERATIVNA JUGOSLAVIJA' (Democratic Federal Yugoslavia, in both Cyrillic and Latin scripts); Denomination '20' and date '1944'.

This note was produced using traditional intaglio (engraved) printing, evident from the fine-line detail work visible throughout the design, the precise geometric patterns in the borders, and the depth and clarity of the portrait engraving. The multi-color printing (red/coral on cream/beige background) suggests multiple passes or a sophisticated color registration process typical of central bank currency production during the 1940s. The specific printer for Yugoslav issues of this period was typically the State Printing Works (Državna tiskara) or contracted European security printers, though precise attribution for this particular issue would require archival research.

This example is cataloged as Pick P-51a. The PMG population report indicates additional varieties (P-51c and P-51d) exist for the base 20 dinara 1944 denomination, suggesting differences in design details, security features, or printing characteristics across variant issues. The serial number prefix 'JJ' and the specific serial sequence '272568' should be noted for variety classification purposes, though detailed variety documentation for wartime Yugoslav issues remains limited in public numismatic literature. The red/coral color variant observed here is consistent with standard P-51a specifications.