10 Roubles

The 1923 RSFSR series was part of a transitional stop-gap measure issued under the Narkomfin while the Soviet monetary system underwent radical restructuring. Hyperinflation had rendered earlier Sovznak emissions nearly worthless — by 1923, denominations were being issued in the millions, and this modest 10-rouble note existed within a currency that was depreciating faster than it could be printed.

The new chervonets, backed by gold, had already launched in late 1922 through Gosbank, running in parallel. These Sovznak issues were effectively the dying currency, tolerated briefly until the 1924 monetary reform extinguished them entirely at a conversion rate of 50,000 to one new rouble.