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The main reasons to mint 50-para, 1-, 2-, and 5-dinar silver coins, 3-para nickel coins and 2-para bronze coins in 1904 were: to mark the 100-year anniversary of the First Serbian Uprising led by Karađorđe and the replacement of the House of Obrenović by the House of Karađorđević, and the expectations that the minting of small-denomination coins would bring profit to fill in the budget of the Serbian state finances. The Privileged National Bank of the Kingdom of Serbia, together with its correspondent, the Hungarian Commercial Bank from Pest, was appointed the contractor/intermediary (between the Ministry of Finance and the minting house), and the following minting houses were selected: the Main Imperial Mint in Vienna and the Hungarian Royal Mint in Kremnica. The silver coins from this series had the features prescribed by the 1878 Law on the Serbian National Money, and in line with the provisions of the 1883 Paris Monetary Convention. 5-dinar coins were minted in the Imperial Minting House in Vienna, and the remaining 50-para, 1- and 2-dinar coins were minted in the Hungarian Royal Mint. These coins remained in circulation until 28 June 1931.

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