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1 050 000 Karbovantsiv Privatization certificate
| Issuer | |
|---|---|
| Year | 1995 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | 202 x 158 mm |
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| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
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| Obverse description | Arms at upper left |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Arms at upper right |
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| Comments |
Ukraine's 1995 privatization certificates were not currency in any conventional sense — they were one-time-use vouchers issued to citizens as part of the mass privatization program that transferred Soviet-era state enterprises into nominally private hands. Each adult Ukrainian received a single certificate, booklet-style in format, entitling them to invest in enterprises sold through privatization auctions. The program was broadly criticized: most citizens, lacking financial literacy or access to auction information, sold their certificates well below face value to speculators and investment funds.
Pick lists this under banknotes largely as a cataloguing convenience. The watermark is the sole conventional security feature — unsurprising for an instrument never intended to circulate.