German occupation (1941-1945) Coin List
The German occupation of Serbia during World War II took place from 1941 to 1945. This turbulent period left an indelible mark on the history of the country and its monetary system, with the introduction of new coins and banknotes reflecting Nazi control over the region.
Historical context and administration
Following the invasion of Yugoslavia by the Axis powers in April 1941, Serbia came under direct control of Nazi Germany. A puppet government known as the Government of National Salvation, headed by Milan Nedić, was established. This collaborationist regime had limited authority, while the real power resided in the hands of the German occupiers. During this period, the Serbian economy was severely affected, with galloping inflation and shortages of basic goods. The resistance, led by communist partisans and monarchist Chetniks, fought against the occupiers and their collaborators, leading to brutal reprisals by German forces.
Monetary system and numismatics
The Serbian monetary system underwent significant changes during the occupation. The German-controlled National Bank of Serbia issued new coins and banknotes. The most common denominations were 50 para, 1, 2, 5, 10 and 20 dinars in coins, and higher value banknotes. Coins from this era are particularly interesting to collectors because of their rarity and historical significance. Made primarily of zinc due to the scarcity of more valuable metals, these pieces often featured Serbian nationalist symbols along with inscriptions in German and Serbian. The design of the coins reflected the complex political reality of the time, combining elements of Serbian identity with the pervasive influence of the Nazi occupier. After the liberation of Serbia by Partisan forces and the Red Army in 1944, these coins were quickly withdrawn from circulation, turning them into valuable historical and numismatic artifacts.
The most valuable and popular coins
The most valuable German occupation (1941-1945) coins and sought after by collectors according to Foronum statistics are the following:
The valuation of these coins list has been achieved through a meticulous algorithm that considers the current market, taking into account aspects such as material, weight, diameter, edge, year of mintage, mint of manufacture and the number of coins produced. Coins with limited mintages and in good condition are usually among the most valuable.
Old coins of Serbia
To facilitate their classification, we have decided to organise the coins according to their historical period, you can consult the coins by historical numismatic categories of Serbia.
Principality of Serbia 1868-1881 Kingdom of Serbia 1882-1917 German occupation 1941-1945 Republic of Serbia 2003-?Coin Catalog
Serbia | 50 para
Serbia | 1 dinar
Serbia | 2 dinara
Serbia | 10 dinara
Other resources to find coins and banknotes of Serbia
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