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1 Kopeck
| Issuer | Arktikugol Trust (Государственный трест «Арктикуголь») |
|---|---|
| Year | 1979 |
| Type | Local banknote |
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|---|---|
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| Reverse description | Plain olive-green field with an all-over Cyrillic text underprint repeating the words ШПИЦБЕРГЕН and АРКТИКУГОЛЬ across the entire surface. A single scalloped guilloche medallion bearing the numeral "1" is centred at the top. Below, two lines of bold Cyrillic text state that the coupon will not be replaced if lost, and a further legend instructs that unused coupons must be returned to the enterprise cashier. |
| Reverse lettering | ПРИ УТЕРЕ НЕ ВОЗОБНОВЛЯЕТСЯ НЕИСПОЛЬЗОВАННЫЕ ТАЛОНЫ ПОДЛЕЖАТ ВОЗВРАТУ В КАССУ ПРЕДПРИЯТИЯ |
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| Comments |
Arktikugol — the Soviet state trust that ran coal mining on Svalbard — issued its own scrip currency for use at the company settlement of Barentsburg, a practice rooted in practical necessity: Norwegian krone circulated on the archipelago under the terms of the 1920 Svalbard Treaty, but the Soviets had no interest in paying their workers in foreign exchange. These coupons served as the internal spending medium, redeemable only at the company store.
The 1979 series replaced earlier issues as the settlement population stabilized around several hundred miners. Scrip from Barentsburg turns up rarely in Western collections — it had no reason to leave the island.