III. Mihály Obrenović, also known as Mihailo Obrenović, was born on September 16, 1823 in Kragujevac and died on January 10, 1868 in Belgrade. He was the prince of Serbia in two different periods: from 1839 to 1842, and then from 1860 until his death1. His reign between 1839 and 1842: Mihály II. He ascended the throne after the death of Milan. However, due to an uprising in 1842, he was forced into exile1. During this period, he traveled a lot and finally returned to Serbia in 1858, when his father, Miloš Obrenović, ascended the throne for the second time. His reign between 1860 and 1868: After Miloš's death, he again became the Prince of Serbia. During this period, he gradually freed Serbia from Turkish rule1. In 1866, he created the Balkan League against the Ottoman Empire, but it soon collapsed. His domestic policy included the reform of the legal system, changes to the electoral laws and the organization of the regular army1. In 1862, he founded a state mortgage bank, and in 1864, he established the Serbian Scientific Society. In 1868, he organized the first Serbian monetary system and founded the national theater, but he was assassinated that same year1. During the reign of Mihály Obrenović, Serbia experienced significant development and did a lot for the nation.

III. Prince Mihály of Serbia (1823-1868) ruled Serbia twice, first from 1839 to 1842 and then from 1860 until his death. Its currency in both periods was the Serbian dinar, which was introduced in 1835 by his father, Miloš Obrenović. The dinar was made of silver and copper and circulated in various denominations such as 1, 2, 5, 10, 20, 50 and 100 paras. The coins usually featured Prince Mihály's portrait, coat of arms, name and year of reign. The place of minting was Belgrade, where a modern mint operated. Prince Mihály's coinage was a symbol of Serbian national independence and economic development.