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| 正面描述 | The obverse is printed in dark grey-blue on a light ground within an ornate floral and scrollwork border. The large numeral «10» appears in guilloche roundels at left and right, with the year «1923» in a decorative panel at top centre. The Soviet state emblem is centred above the main inscription ГОСУДАРСТВЕННЫЙ ДЕНЕЖНЫЙ ЗНАК and the denomination ДЕСЯТЬ РУБЛЕЙ in bold Cyrillic lettering, with the clause ОБЕСПЕЧИВАЕТСЯ ВСЕМ ДОСТОЯНИЕМ РЕСПУБЛИКИ below. Signature lines for the Народный Комиссар Финансов and Кассир appear at lower centre, flanked by the serial number. |
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| 背面铭文 | ОДИН рубль 1923 г. РАВЕН ОДНОМУ МИЛЛИОНУ РУБЛЕЙ ДЕНЗНАКАМИ, ИЗЪЯТЫМИ ИЗ ОБРАЩЕНИЯ, ИЛИ СТА РУБЛЯМ ДЕНЗНАКАМИ 1922 г. ПРИЁМ ПО СЕМУ РАСЧЁТУ ОБЯЗАТЕЛЕН ДЛЯ ВСЕХ 10 |
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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.