10 000 Tengas Treasury

The Emirate of Bukhara's 1920 note issues came at the worst possible moment for the institution backing them. The Red Army overthrew Emir Said Alim Khan in September 1920, ending a dynasty that had ruled — under varying degrees of Russian imperial pressure since 1868 — for centuries. Notes from this series were issued in the months immediately preceding or concurrent with that collapse, which means they circulated in a polity that ceased to exist almost immediately after printing.

The succeeding Bukharan People's Soviet Republic issued its own currency, rendering these tengas obsolete almost at birth. Surviving examples often show minimal wear for that reason — not because they were carefully preserved, but because the political situation overtook their practical use before they could circulate fully.