The paper provides a review of the activities of the Ministry of Finance and the National Bank of Yugoslavia in the period from 1931 to 1941, during which the 50-dinar banknote was prepared, printed and, after almost ten years of waiting, put into circulation for a short amount of time. The preparations for the production of the 50-dinar banknote, which bears the date 1 December 1931, began at the beginning of the same year. The banknote was made for the event of an emergency situation in the country, when silver coins disappear from circulation, to replace those coins, and to enable unhindered cash circulation. It was released on 8 April 1941, when the Kingdom of Yugoslavia was already at war, in the total amount of 30,792,000 pieces. The National Bank only put a small part of that into circulation, and destroyed a larger part, but the occupying forces also used it for payments in the country. The withdrawal from circulation was carried out by the Serbian National Bank in the occupied Serbia, from 14 to 22 October 1941.