There is no unanimity or common opinion on the issue which form of government is more progressive, advanced and beneficial for the society: monarchy or republic. It is beyond dispute which of the two forms of government was created first; yet, both forms of government have indisputably sustained significant changes in the course of their historical development. Anyway, in contemporary monarchies, the role of the Monarch is largely ceremonious. Notwithstanding all the advantages and disadvantages of these two forms of government, the author is of the opinion that the most prominent difference in the operation of the monarchy and the republic lies in the fact that the private and the public interests of the monarch largely coincide, which may not be the case in the republican form of government. Besides, citizens frequently associate the concept of monarchy with some unrealistic (almost mythical) features and imagery.