

This is a pristine example of Yugoslavia's 5 dinara note from 1968, graded UNC, featuring elegant intaglio engraving throughout. The obverse displays a striking portrait of a peasant woman in traditional dress shown in left-facing profile, while the reverse showcases a large circular medallion containing the numeral 5 surrounded by an ornate star-patterned border. The note exhibits exceptional condition with no visible wear, creases, or circulation marks, making it a desirable example for collectors of Yugoslav currency and Eastern European banknote series.
Common. The eBay market data shows consistent sales across multiple years (2012-2023) with UNC examples selling for $0.90-$3.25, with a 2019 catalog value of $1 for UNC condition. The regular appearance of this note at auction with multiple bidders and relatively low prices indicates a substantial print run with good availability in the collector market. This denomination and date are readily obtainable and represent standard circulation-era Yugoslav currency rather than a scarce or limited issue.
Issued in May 1968 by the Narodna Banka Jugoslavije during the Socialist Federal Republic of Yugoslavia period, this note reflects the era's socialist ideology through its depiction of a working peasant woman—a symbolic representation of the proletariat valued in communist states. The multilingual inscriptions in both Latin and Cyrillic scripts on the front and back underscore Yugoslavia's unique position as a non-aligned socialist nation with diverse ethnic republics, each with distinct linguistic traditions within the federation.
The obverse features a detailed intaglio portrait of a peasant woman occupying the left portion of the note, depicted with long wavy hair and wearing draped traditional or period clothing characteristic of Yugoslav rural populations. The woman is rendered in left-facing profile with fine line engraving creating subtle modeling and depth. Ornate baroque-style decorative borders frame the design, with corner flourishes and guilloche patterns providing security and aesthetic appeal. The center-right displays the denomination '5' and issuer information in formal typography. The reverse is dominated by a large circular medallion containing the numeral 5 in prominent display, encircled by an elaborate star-patterned decorative border. The background features intricate geometric and ornamental patterns in light blue and cyan tones. Both sides employ extensive fine-line engraving and complex guilloche work as security features, typical of Zavod za Izradu Novčanica's production standards.
Front Side: 'Narodna Banka Jugoslavije' (National Bank of Yugoslavia) appears in both Latin and Cyrillic scripts. The denomination is shown as '5 Dinara/Динара/Динари' (Five Dinars in multiple script variations). Administrative titles include 'Guverner' and 'Viceguvernер' (Governor and Vice-Governor). Location and date markings: 'Beograd' (Belgrade) and 'V 1968' (May 1968). Serial number: 'AB 763543'. Back Side: The principal text reads 'Socialistička Federativna Republika Jugoslavija' / 'Социјалистичка Федеративна Република Југославија' (Socialist Federative Republic of Yugoslavia) in both scripts. The denomination appears as 'ПЕТ ДИНАРА' / 'ПЕТ ДИНАРЕЙ' (Five Dinars in Cyrillic variants). Engraver credits: 'M. Petrović Fec.' and 'T. Krnjanac Sc.'. Security warning in both scripts: 'Falsifikovanje se Kaznjava po Zakonu' / 'Фалсификување се Казнува по Законот' (Counterfeiting is Punishable by Law).
Intaglio engraving (also known as recess printing or copperplate engraving), the traditional security printing method. The note was produced by Zavod za Izradu Novčanica (Institute for Banknote Production) in Belgrade. Evidence includes: fine line engraving throughout both obverse and reverse; detailed portrait rendering with subtle tonal gradations characteristic of intaglio; ornate guilloche patterns and decorative borders; engraver signatures ('M. Petrović Fec.' and 'T. Krnjanac Sc.') typical of intaglio production attribution. The multicolor underprint visible on both sides suggests the use of multiple impression passes, a standard practice in high-security banknote production of the era.
Cataloged as Pick P-81a, with PMG records indicating this is the primary (and possibly only cataloged) variant for the 5 dinara 1968 base Pick number. The observed specimen displays serial number AB 763543, consistent with the standard serial numbering format described in reference materials as 'like number 77a' (two-letter prefix followed by six-digit sequence). No overprints, color variations, or other distinguishing variety features are visible in this example. The note represents the standard regular issue produced by Narodna Banka Jugoslavije for this denomination and year.