Russian Paper Currency: A Comprehensive Overview

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Banknote in Close Up
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Russia's paper currency has a rich history, dating back to 1724 when the first paper ruble was introduced. The first paper currency was issued by Peter the Great.

The Russian paper currency has undergone many changes over the years, with different denominations and designs being introduced. The Soviet Union continued to use paper currency after the Russian Revolution.

The Soviet ruble was introduced in 1922, replacing the old Russian ruble. The Soviet ruble was a major improvement over the old currency, with new security features and a standardized design.

The Soviet ruble was used until the collapse of the Soviet Union in 1991, when the Russian ruble was reintroduced. The new ruble was pegged to the US dollar at an exchange rate of 1 USD = 6.3 RUB.

Russian Paper Currency History

The Russian paper currency has a rich history that spans over a century. The first paper currency was introduced in 1690 by Peter the Great, who issued a decree allowing the government to print its own paper money.

A detailed image of Russian ruble banknotes with various coins scattered on top, showcasing currency details.
Credit: pexels.com, A detailed image of Russian ruble banknotes with various coins scattered on top, showcasing currency details.

The government's decision to print its own currency was a response to the scarcity of gold and silver coins in Russia. This move was a significant departure from the traditional gold and silver standard that had been used in Russia for centuries.

The first paper currency was called the assignat, and it was used to finance Russia's wars with Sweden and the Ottoman Empire. The assignat was not very successful, as it led to inflation and a decline in the value of money.

1917 State Bank Issues

In 1917, the Russian State Bank issued a series of notes and coupons, including the 200 Ruble State Bank Savings Loan Notes and Coupons, which featured a woman with a child holding a sword and shield on the front.

These notes were printed by the American Bank Note Company and had an interest table on the back. The State Bank - Irkutsk Branch was the authority behind this issue, with reference number S882a.

Smartphone displaying calculation with Russian rubles on a marble surface, representing finance and budgeting.
Credit: pexels.com, Smartphone displaying calculation with Russian rubles on a marble surface, representing finance and budgeting.

The Provisional Government also issued credit notes that year, with the 5 Ruble Provisional Government State Credit Note being one example. This note was issued by the R.S.F.S.R. and had a lower signature of Baryshev.

Some notable features of the 5 Ruble note include its block number, УA 044 - 200, УБ 401 - 510, and its watermark, which repeated the value of the note.

The 1917 State Bank Savings Loan Notes and Coupons Issue had a unique printer, the American Bank Note Company, which is also notable for being a different printer than the Expedition of State Securities, which printed the 5 Ruble note.

Here is a list of the 1917 State Bank Issues mentioned in the article:

  • 200 Ruble State Bank Savings Loan Notes and Coupons (S882a)
  • 5 Ruble Provisional Government State Credit Note (35ab2)
  • 1000 Ruble Provisional Government State Credit Note (37b1)

1947 Issue

In the 1947 issue of Russian paper currency, we see the introduction of the 1 Ruble denomination. This note was printed by Federal State Unitary Enterprise - Goznak.

The issue date was 1947, a significant year in Russian history. The note features arms on the front side.

The back of the note features the hammer and sickle, a symbol of the Soviet Union. The State Treasury was the authority behind this note's issuance.

This particular note was graded as Uncirculated 62 by PCGS.

Provisional Governments

Various Russian paper banknotes located on picturesque view of bright blossom field on cloudy day
Credit: pexels.com, Various Russian paper banknotes located on picturesque view of bright blossom field on cloudy day

The Provisional Governments issued several notable paper currencies, each with its unique characteristics. The Provisional Government State Credit Notes, issued in 1917, featured a 5 Rubles denomination with a superb gem UNC 67 - PMG grade.

These notes were printed by the Expedition of State Securities and had a front and back design featuring arms. They also had a watermark of value repeated and were signed by Baryshev. The 1000 Rubles denomination from the same issue had a Duma Building - Moscow design on the back and was also signed by Baryshev.

The Provisional Siberian Administration issued paper currencies in 1918, including a 5 Rubles note with a coat of arms design on the front and back. They also issued a 10 Rubles note with the same design.

A fresh viewpoint: 50 Rubles

Provisional Government State Credit (1917)

The Provisional Government State Credit Notes issued in 1917 were a series of banknotes used during a tumultuous time in Russia's history.

Person using smartphone calculator with Russian rubles on a table, representing financial planning.
Credit: pexels.com, Person using smartphone calculator with Russian rubles on a table, representing financial planning.

These notes were issued by the Gosudarstvenniy Bank, the state bank of the Russian Soviet Federative Socialist Republic, and were printed by the Expedition of State Securities.

The 5 Ruble note, for example, featured arms on both the front and back, and had a watermark of the value repeated.

The notes were graded by the Professional Currency Grading service, with the 5 Ruble note receiving a Superb Gem UNC 67 grade, indicating its excellent condition.

Here are some key facts about the Provisional Government State Credit Notes:

The 1000 Ruble note, on the other hand, featured a Duma Building in Moscow on the back, and had a signature of Baryshev.

Provisional Siberian Administration (1918-1919)

The Provisional Siberian Administration issued banknotes from 1918 to 1919. These notes were denominated in various values, including 5 Rubles and 10 Rubles, both issued in 1918.

The 5 Ruble note, Reference S817, was authorized by the Provisional Siberian Administration and featured a Coat of Arms on the front and back. The Coat of Arms on the front is a double-headed eagle.

You might enjoy: One Million Rubles

Pile of 5000 ruble banknotes next to a keyboard on a white surface, viewed from above.
Credit: pexels.com, Pile of 5000 ruble banknotes next to a keyboard on a white surface, viewed from above.

The 10 Ruble note, Reference S818, is similar to the 5 Ruble note, also featuring a Coat of Arms on the front and back. The Coat of Arms on the front is a double-headed eagle.

The Provisional Siberian Administration also issued a 50 Kopeks note in 1919, Reference S828. This note was printed by the American Bank Note Company, but without an imprint.

The 1000 Rubles note, Reference S863, was issued in 1919 and featured a Coat of Arms on the front, which is a double-headed eagle.

Here's a summary of the notes issued by the Provisional Siberian Administration:

Government Savings Loans

Government Savings Loans were a type of paper currency issued in Russia during the early 20th century.

The State Bank Savings Loan Notes and Coupons Issue, dated 1917, featured a woman with a child holding a sword and shield on the front, and an interest table on the back.

The Provisional Government Savings Loan Notes Issue, dated 1920, was an overprint of the 1917 issue by the Bolsheviks.

Both issues were printed by the American Bank Note Company and had a denomination of 200 Rubles.

The Provisional Government Savings Loan Notes Issue was graded F by the seller and sold for $24.05 in December 2019.

Russian Ruble Visuals

Russian banknotes with a keyboard and notebook on a white table surface, ideal for business finance themes.
Credit: pexels.com, Russian banknotes with a keyboard and notebook on a white table surface, ideal for business finance themes.

You can find over 38,200+ stock photos and images of Russian rubles online.

The Russian ruble is represented by various denominations, including millions of rubles, 1000 rubles, and 5000 rubles.

Close-up shots of Russian rubles are often used to highlight the currency's design and details.

Hands counting Russian rubles are a common visual representation of the currency in use.

The Russian ruble is also depicted in electronic cyberspace, such as in 3D rendered graphics.

Business and finance concepts often feature Russian rubles, such as 1000 ruble banknotes or a man holding thousands of rubles.

Russian banknotes with high denominations, like 5000 rubles, are also widely photographed.

You can see Russian rubles in various settings, including a wallet or a pile of coins in front of the Moscow Kremlin.

Male and female hands are often used to represent the handling of Russian rubles in different scenarios.

Frequently Asked Questions

What was the old Russian currency?

The old Russian currency was the ruble, which was used in the Russian Empire and Soviet Union. It's a fascinating piece of history that shaped the country's economy and identity.

Matthew McKenzie

Lead Writer

Matthew McKenzie is a seasoned writer with a passion for finance and technology. He has honed his skills in crafting engaging content that educates and informs readers on various topics related to the stock market. Matthew's expertise lies in breaking down complex concepts into easily digestible information, making him a sought-after writer in the finance niche.

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