Nicholas I, the only king of Montenegro, ruled as prince from 1860 to 1910 and then as king from 1910 to 1918. He was born on October 7, 1841 in Njeguši, the ancestral estate of the Petrović house, and died in Antibes, France on March 1, 1921. He studied in Paris in his youth, but the French capital did not captivate him as much as his country. In 1860, after the assassination of his uncle, Danilo I, he inherited the throne. In the same year, he married Milena Vukotić. During his reign, he carried out many reforms in the state administration, the army and public education. Montenegro was involved in several wars with the Ottoman Empire between 1862 and 1878. In 1876, he launched a war against the Turks and conducted successful campaigns, during which he captured Nikšić, Bar and Ulcinj, pushing the country's borders forward and gaining the Adriatic coast. Montenegrin independence was recognized by the Congress of Berlin in 1878, and in the following decades the a small mountainous country began to flourish significantly. In 1905, the first Montenegrin constitution was created, and Western European-style press freedom and legislation were introduced on the instructions of Miklós. In 1906, the state introduced its own currency, the perper. In 1910, it assumed the royal title, and when the Balkan War broke out in 1912, it fought with harsh means against the Ottoman rule. However, he lost his power in 1916, when the Austro-Hungarian Monarchy occupied the territory of the country. He went into exile in France, but he did not renounce his claim to the throne until his death in 1921. His body was laid to rest in the Russian Orthodox Church of Christ the Redeemer in Sanremo, Italy. His wife, Queen Milena, and two of their twelve children were reburied in Montenegro in 1989. He also wrote poetry and was the author of the work "Onamo, 'namo". His life and reign were a defining part of Montenegrin history.

Prince Miklós I, King of Montenegro ruled from 1860-1918. During his reign, the country's financial system underwent significant changes. In 1860, after liberation from Turkish rule, Montenegro received its own minting rights. Taking advantage of this, Prince Miklós started minting his own coins in 1864. Montenegro introduced its own currency, the perper. The perper was divided into 100 paras. The litigious coins were made in denominations of 1, 2, 5, 10, 20, 50, 100, 200, 500 and 1000. The coins featured the portrait of Prince Miklós and the Montenegrin coat of arms. I. During the reign of Prince Mikós, the Montenegrin coinage system underwent significant development. By acquiring its own minting rights, Montenegro was able to act as an independent state on the international financial market. Montenegrin litigious coins are still valuable collector's items today.