100-dinars, overprinted in 1941 on 100-dinars from 1929. Parts of the original design (including the original coat of arms on the shield held by the Serbian man) were blacked out and replaced with updated design/text. The round window shows a watermark of King Alexander (r.1929-1934). Pick #23 overprinted on Pick#27b.

Decent large-sized banknote from circulation (1941 100-dinara saw much circulation and are difficult to find in high grade).

The 100 dinars German occupation overprint issue of Serbia (1941) was part of the emergency currency produced after Nazi Germany occupied Yugoslavia in April 1941. Pre-war Yugoslav 100-dinar banknotes were overprinted with occupation markings - the Serbian double-headed eagle and German-approved control text - to validate them for circulation under the puppet Government of National Salvation headed by Milan Nedić. Issued amid severe inflation and monetary disruption, these overprinted notes reflect the rapid improvisation of financial systems under occupation and are today collected as stark artifacts of wartime Serbia and Axis monetary policy in the Balkans.