Note of the Month: Bulgaria 5 Leva

Posted on 1/22/2025

The leva, which has been Bulgaria's currency for 140 years, might soon be phased out in favor of the euro.



Click images to enlarge.

Country: Bulgaria

Catalog Number: 1c

Date: ND (1904)

Denomination: 5 Leva Srebro

Varieties: There are four catalog numbers (1a, 1b, 1c and 1d) in the PMG Population Report that correlate to three different signature combinations, one of which varied by having either a single-letter or double-letter prefix.

What makes it special? This is among the earliest examples of the paper money of Bulgaria. The denominations of all notes before 1924 included either the word for gold (zlatni) or silver (srebro). The term "lev" itself derives from an archaic Bulgarian word for lion.

Did you know? Bulgaria had originally targeted this month (January 2025) to begin adoption of the euro, but its entry into the eurozone was delayed because the country had difficulty getting its inflation low enough.

Total graded by PMG: As of late December 2024, the PMG Population Report includes 29 examples of the ND (1904) 5 Leva Srebro, including 6 of Pick# 1a, 4 of Pick# 1b, 14 of Pick# 1c and 5 of Pick# 1d.

PMG median grade: PMG 20 Very Fine.

PMG highest graded: From all 29 examples, the PMG Population Report lists a single Uncirculated example: a Pick# 1c in PMG 64 Choice Uncirculated.

Sales highlights: A Pick# 1c graded PMG 15 Choice Fine and another vintage Bulgarian note together realized $336 in a Heritage Auctions sale in July 2024.

PMG Registry: This note is part of the Bulgaria Complete, 1904-Date, Type Set, Issued Notes category in the PMG Registry, where the second-place set, KOSTADIN VEZYOV's Bulgaria Complete/1904-Date, P1-Date VEZYOV, has an example graded PMG Very Good 10 Net.

Previous Notes of the Month:

Articles List

Note of the Month: Bulgaria 5 Leva

Stay Informed

Thanks!