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1 Rouble
| Issuer | People's Commissariat of Finance (Narkomfin), RSFSR |
|---|---|
| Year | 1923 |
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| Reference(s) | P#156 |
| Obverse description | Printed in dark rose on a light ground, the obverse is enclosed within an elaborate scrollwork and foliate guilloche border. The Soviet state emblem occupies the centre, flanked by large Cyrillic denomination panels reading РУБЛЬ, with the date 1923 appearing at both the upper and lower margins. The central text identifies the note as a Государственный Денежный Знак of one rouble, with the statutory backing clause, Cashier and People's Commissar of Finance signature lines, and the serial number positioned below. |
|---|---|
| Obverse lettering | ГОСУДАРСТВЕННЫЙ ДЕНЕЖНЫЙ ЗНАК ОДИН РУБЛЬ ОБЕСПЕЧИВАЕТСЯ ВСЕМ ДОСТОЯНИЕМ РЕСПУБЛИКИ Народный Комиссар Финансов КАССИР 1923 РУБЛЬ |
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| Comments |
The 1923 RSFSR rouble issues occupy a peculiar administrative moment: the Russian Soviet Federative Socialist Republic was still issuing its own currency even as the USSR had formally come into existence in December 1922. Narkomfin continued producing RSFSR-designated notes into 1923 while the new Soviet monetary architecture was being assembled, meaning this note was obsolescent almost from the date of printing.
The 1923 series also coincided with the tail end of catastrophic hyperinflation — earlier 1921–22 denominations had reached into the millions of roubles. By 1923, a redenomination was already underway, and the chervonets-based reform would render these roubles worthless within months of issue.