Bosnia and Herzegovina convertible mark explained

Bosnia and Herzegovina
convertible mark
Local Name:
Image 1:Convertible Marks (banknotes and coins) – Vertical.png
Image Title 1:Convertible marks coins and banknotes1
Image Alt 1:Convertible marks coins and banknotes
Iso Code:BAM
Issuing Authority:Central Bank of Bosnia and Herzegovina
Date Of Introduction:22 June 1998
Inflation Rate:−0.9%
Inflation Source Date:The World Factbook, 2014 est.
Inflation Method:CPI
Pegged With:Euro (€) = KM 1.95583
Subunit Name 1:Fening
Subunit Inline Note 1:"Fening" is the official English language name of the subunit.
Symbol:KM
Symbol Subunit 1:pf
Plural Slavic:Y
Used Coins:5, 10, 20, and 50 fenings;
KM 1, KM 2, KM 5
Frequently Used Banknotes:KM 10, KM 20, KM 50, KM 100
Rarely Used Banknotes:KM 200
Printer:Imprimerie Oberthur
(by François-Charles Oberthür)
Mint:Royal Mint, Llantrisant
Footnotes:1 Designs for KM 10, KM 20, KM 50, and KM 100 banknotes differ for the two constituent polities, the FBiH and RS, in some aspects, including images and order of scripts. The residual KM 200 banknote and all of the coins are identical for both polities.

The convertible mark (Bosnian:, Cyrillic: ; sign: KM; code: BAM) is the currency of Bosnia and Herzegovina. It is divided into 100 or (/) and locally abbreviated KM. While the currency and its subunits are uniform for both constituent polities of Bosnia and Herzegovina, namely the Federation of Bosnia and Herzegovina (FBiH) and Republika Srpska (RS), the designs of the KM 10, KM 20, KM 50, and KM 100 banknotes are differentiated for each polity.

History

The convertible mark was established by the 1995 Dayton Agreement. It replaced the Bosnia and Herzegovina dinar, Croatian kuna and Yugoslav novi dinar as the single currency of Bosnia and Herzegovina in 1998. Mark refers to the Deutsche Mark, the currency to which it was pegged at par.

Etymology

The names derive from German. The three official languages of Bosnia and Herzegovina, Bosnian, Serbian and Croatian, have adopted the German nouns German: [[Deutsche Mark|Mark]] and German: [[Pfennig]] as loanwords marka and pfenig. The Official Gazette of BiH (Bosnian: Službeni glasnik BiH), Official newspaper of FBiH (Bosnian: Službene novine FBiH) and other official documents recognised pfenig or пфениг[1] (depending on the script; Serbian uses both Latin and Cyrillic equally, while Bosnian and Croatian uses only Latin) as the name of the subdivision. Most, however, consider the "pf" cluster in "pfenig" to be nigh unpronounceable, so the pronunciation was practically immediately reduced to "fenig", which eventually gave rise to the "fening" misspelling.Banknotes of 50 fenings circulated from 1998 to 2003. They were denoted "50 KONVERTIBILNIH PFENIGA" / "50 КОНВЕРТИБИЛНИХ ПФЕНИГА"; technically, the word convertible should not qualify the word pfenig because only the mark is convertible.[2] (See Errors for all of the errors on banknotes and coins.) Coins of 10, 20, and 50 pfenigs have circulated since 1998 (the 5-pfenigs coin was released in 2006). All of them are inscribed "Bosnian: ~ feninga" / "Serbian: ~ фенинга" on the obverse. The misspelling Bosnian: fening/Serbian: фенинг has never been corrected, and it took such a hold that it was officially adopted and not recognised as incorrect.[3] Due to the overall confusion surrounding the foreign name of the currency, most people call the convertible mark simply "marka" ("mark") while pfennigs are referred to as "kovanice" ("nickels").

Plurals and cases

Serbo-Croatian is subject to a case system. For the purposes of pluralizing currency terms, three situations are relevant:

màrka (màr: a – short vowel, rising tone) and pfénig/féning ((p)fé: e – short vowel, rising tone)

màrke (màr: a – short vowel, rising tone) and pféniga/féninga ((p)fé: e – short vowel, rising tone)

mȁrākā (mȁr: a – short vowel, falling tone; vowels ā are not accented but have genitive length) and pfénīgā/fénīngā ((p)fé: e – short vowel, rising tone; vowels ī and ā are not accented but have genitive length)

(For further information on accents in BSC, see Serbo-Croatian phonology and Shtokavian dialect#Accentuation.)

For the pfenig, the plural is pfeniga/feninga with a short unaccented a, whereas the genitive plural is the same pfeniga/feninga but with a long unaccented i and a. A syllable after an accented syllable whose vowel is pronounced long and with a continuous tone, i. e. neither rising or falling, is said to have a genitive length (although the word does not necessarily have to be in the genitive case in order to have genitive length on its syllable; it can be in the locative also).

These matters should be noted when the local names are used in English. For example, the English plural "ten pfenigas" / "ten feningas" is incorrect because the final a in the BSC plural pfeniga/feninga already indicates the plural. Therefore "ten pfenigs" / "ten fenings" should be used. The Central Bank of Bosnia and Herzegovina (CBBH) uses "fenings" as the English plural.[3] Likewise, "twenty-one markas", "two markes", and "twelve marakas" are incorrect; "twenty-one marks", "two marks", and "twelve marks", respectively, are correct.

Coins

In December 1998, coins were introduced in denominations of 10, 20 and 50 fenings.[3] Coins of 5 fenings, KM 1, KM 2 and KM 5 were introduced later.[3] The coins were designed by Bosnian designer Kenan Zekić[4] and minted at the Royal Mint in Llantrisant (Wales, UK).[3]

Coins of the convertible mark (1998–present)
Image
 
Value Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse minting issue withdrawal lapse
O R5 fenings18.00 mm2.66 gnickel-plated steelreededMap of Bosnia and Herzegovina, country name, denominationFlag of Bosnia and Herzegovina, country name, yearCurrent
O R10 fenings20.00 mm3.90 gcopper-plated steelplainMap of Bosnia and Herzegovina, country name, denominationFlag of Bosnia and Herzegovina, country name, yearCurrent
O R20 fenings22.00 mm4.50 greeded
O R50 fenings24.00 mm5.15 g
O R1 mark  23.25 mm4.95 gnickel-plated steelmilled and smooth Denomination, country name, indented and inverted triangles*Coat of arms of Bosnia and HerzegovinaCurrent
O R2 marks25.75 mm6.90 gcupro-nickel (inner ring);
golden 5.5%;
nickel-brass combination (outer ring)
Peace dove
O R5 marks30.00 mm10.35 gnickel-brass (inner ring);
copper-nickel (outer ring)
milled
  • The triangles are intended for the visually impaired.

Banknotes

In 1998, notes were introduced in denominations of 50 fenings, KM 1, KM 5, KM 10, KM 20, KM 50, and KM 100. KM 200 notes were added in 2002, while the 50-fening and KM 1 and KM 5 notes were later withdrawn from circulation. All current notes are valid throughout the nation.[3]

The Central Bank of Bosnia Herzegovina issues the banknotes, with distinct designs for the constituent polities of the Federation of Bosnia and Herzegovina and the Republika Srpska,1 except for the largest denomination, i. e. the KM 200 note. The banknotes are legal tender throughout the country.[3] On the notes for the Republika Srpska, inscriptions are printed first in Cyrillic and then Latin script, and vice versa. Banknotes, with the exception of the KM 200 note, are printed by the French company Oberthur.[3] [5]

Federation of Bosnia and Herzegovina issues

Banknotes of the convertible mark for FBiH (1998–present)
Image
 
Value Technical parameters Description Date of
Dimensions Watermark Obverse Reverse printing issue withdrawal lapse
O R50 fenings120 mm × 60 mmCentral Bank monogram repeated verticallySkender KulenovićStećak Zgošca fragment
(1998)
O R1 mark  120 mm × 60 mmIvan Franjo JukićStećak Stolac fragment
O R5 marks122 mm × 62 mmMeša SelimovićTrees
(1998)
O R10 marks130 mm × 65 mmMehmedalija Mak DizdarStećak Križevići fragment (until 2017 print, wrongly named as "Stećak Radimlja", corrected in 2019 print)[6] [7]
(1998)
(2008)
(2012)
(2017)
(2019)


1 June 2012
14 April 2017
Current
O R20 marks138 mm × 68 mmAntun Branko ŠimićStećak Radimlja fragment
(1998)
(2008)
(2012)
(2019)
O R50 marks146 mm × 71 mmMusa Ćazim ĆatićStone relief
(1998)
(2002)
(2007)
(2008)
(2009)
(2012)
(2017)
(2019)


 (2002)

 (2008)

O R100 marks154 mm × 74 mmNikola ŠopStećak Zgošca fragment
(1998)
(2002)
(2007)
(2008)
(2012)
(2017)
(2019)


 (2002)

 (2008)

Republika Srpska issues

Banknotes of the convertible mark for RS (1998–present)
Image
 
Value Technical parameters Description Date of
Dimensions Watermark Obverse Reverse printing issue withdrawal lapse
O R50 fenings120 mm × 60 mmCentral Bank monogram repeated verticallyBranko ĆopićHouse and books
(1998)
O R1 mark  120 mm × 60 mmIvo AndrićThe Bridge on the Drina
O R5 marks122 mm × 62 mmMeša SelimovićTrees
(1998)
O R10 marks130 mm × 65 mmAleksa ŠantićLoaf of bread
(1998)
(2008)
(2012)
(2017)
(2019)



Current
O R20 marks138 mm × 68 mmFilip VišnjićGusle (musical instrument)
(1998)
(2008)
(2012)
(2019)
O R50 marks146 mm × 71 mmJovan Dučićpen, eyeglasses and book
(1998)
(2002)
(2007)
(2008)
(2009)
(2012)
(2017)
(2019)


 (2002)

 (2008)

O R100 marks154 mm × 74 mmPetar Kočićpen, eyeglasses and book
(1998)
(2002)
(2007)
(2008)
(2012)
(2017)
(2019)


 (2002)

 (2008)

Nationwide issues

The portraits of Ivan Franjo Jukić and Meša Selimović, which are both writers, were featured by consensus between both entities on all KM 1 and KM 5 notes used between 1998 and 2010.[3]

On 15 May 2002, a KM 200 banknote, designed by Robert Kalina, was introduced during a promotion that was held in the Central Bank of BH. The reverse design which depicts a bridge is meant to resemble the euro banknotes, which were also designed by Robert Kalina. After an international tender, the Austrian company Oesterreichische Banknoten und Sicherheitsdruck GmbH (OeBS) in Vienna was chosen to print the notes. Initially, six million were ordered.[8]

Exchange rates

Initially the mark was pegged to the Deutsche Mark at par.[3] Since the replacement of the German mark by the euro in 2002, the Bosnian convertible mark uses the same fixed exchange rate to euro that the German mark had (that is, [3]

Errors

Banknotes and coins of Bosnia and Herzegovina have many mistakes and inconsistencies.[3]

Officially, only one banknote has not been released in circulation because of a mistake, even though other banknotes with mistakes had been issued.[3]

Banknote examples

These are the most important mistakes that have been noticed to date:

Coin examples

See also

External links

Notes and References

  1. Mulaomerović . Jasminko . 2004 . Novi numizmatičar . New numismatist . bs . 3 (8) . Sarajevo . Numizmatičko društvo – Sarajevo . 2 . 5 . 20–21 . 20 December 2015 . Scribd . Bosnian: Mi, u našoj veseloj zemlji, imamo konvertibilnu marku kao novčanu jedinicu. Marka ima svoj najsitniji dio koji se zove '''pfenig'''. Tako kaže ''Službeni glasnik BiH'', a Službeni glasnik – to ti je zakon. Ko misli da to i nije baš zakon, jer se tu objavljuju stvari koje se tiču vesele zemlje Bosne i Hercegovine, tu su i ''Službene novine Federacije BiH'' koje to potvrđuju, i to na sva tri jezika i u dva pisma. (...) Međutim, imamo mi i kovanice. Iako su i one dijelovi marke, samo odmetala, one se kod nas drugačije zovu – '''fening'''. Tako na kovanicama možemo pročitati 10 feninga, 20 feninga i 50 feninga.|italic=unset .
  2. Mulaomerović . Jasminko . 2004 . Novi numizmatičar . New numismatist . bs . 3 (8) . Sarajevo . Numizmatičko društvo – Sarajevo . 2 . 5 . 20–21 . 20 December 2015 . Scribd . ... i u dva pisma. Da je to tako vidi se na novčanicama od 50 KONVERTIBILNIH PFENIGA, i onim sa Skenderom Kulenovićem i onim sa Brankom Ćopićem. Doduše, „Službeni(e)...” i stvarne novčanice se malo razilaze u detaljima pa tako u Službeni(e)... imamo „konvertibilnu marku, apoen od 50 pfeniga”, a na novčanicama „50 KONVERTIBILNIH PFENIGA”. Dakle, prema Službeni(e)... marka jeste konvertibilna, ali pfenig nije, dok je prema novčanici i PFENIG konvertibilan. Ima tu još malo nejasnoća oko velikog i malog slova u riječi „pfenig”, ali kao da je to, uostalom, i važno, i ko će sve to, bogati, gledati!?.
  3. Web site: BH Currency – KM Banknotes and Coins . cbbh.ba . Central Bank of Bosnia and Herzegovina . Sarajevo . 1 . 20 December 2015 . Fening details: Mint: Royal Mint, Llantrisant Released into Circulation: December 9th, 1998, with the exception of the 5 fening coin which is in circulation from January 5, 2006. Face: Map of BH with overlay of denomination Reverse: Flag of BH The Words: "Bosna i Hercegovina" and "Fening" are on the face and reverse edges in both Latin and Cyrillic script. The date of production is on the reverse side on the left from the BH flag. 10, 20 and 50 fening coins are made of copper-plated steel, while 5 fening coin is made of nickel-plated steel. . https://web.archive.org/web/20151222134118/http://cbbh.ba/ . 22 December 2015 . dead .
  4. Website of Kenan Zekić. Available at: http://kenanzekic.com.ba/
  5. Mulic, Josef (2000). Papirini novac na tlu Bosne i Hercegovine od 1918. godine do danas
  6. Web site: Novčanice KM . www.cbbh.ba . 16 July 2020.
  7. Web site: H . S. . Na novčanici od 10 KM nije stećak iz Radimlje, greška će biti ispravljena . Radio Sarajevo. 10 November 2017 .
  8. Web site: CBBH. Cbbh.ba. 3 May 2016. https://web.archive.org/web/20140222210315/http://cbbh.ba/index.php?id=312. 2014-02-22. dead.
  9. Web site: Na novčanici od 10 KM nije stećak iz Radimlje, greška će biti ispravljena. Radiosarajevo.ba. 10 November 2017 . 4 January 2018.