| Description de l’avers |
Yellow-toned note with an ornate border incorporating swastika corner motifs and a guilloche frame. At centre, a large circular vignette divided into four quadrants in black, white, red, and yellow — likely a representation of the Buddhist dharma wheel or state emblem — surrounded by dense Mongolian script text in Traditional Mongolian vertical script filling both side panels. The serial number appears twice in the upper margin, with trilingual inscriptions in Mongolian, English, and Russian across the lower portion reading 'MONGOLIAN GOVERNMENT'S TREASURE / 6% PROVISIONARY OBLIGATION / 100 DOLLARS' and the Cyrillic equivalent. |
| Légende de l’avers |
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| Description du revers |
Yellow-toned reverse with an ornate border incorporating yin-yang corner medallions and interlaced Celtic-style knot motifs at top corners. The upper centre bears a rectangular official seal or stamp overprint in blue and red with Mongolian script. Dense vertical Mongolian script text fills both side panels. At lower centre, a semicircular vignette shows a Bactrian camel standing in a landscape with mountains in the background, rendered in a linear engraving style. A bilingual inscription in English and Russian along the bottom reads the redemption terms dated 20 November 1921. |
| Légende du revers |
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| Signature(s) |
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| Type de protection |
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| Description de la protection |
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| Variantes |
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Mongolia's 1921 Treasury obligations were issued in the immediate aftermath of the country's declaration of independence from China, with the new government desperately short of both hard currency and functioning financial infrastructure. Denominating obligations in U.S. dollars rather than any local unit was a pragmatic admission that the tögrög did not yet exist — it wouldn't be introduced until 1925 — and that foreign trade creditors would accept nothing else.
The American Bank Note Company contract was almost certainly arranged through connections with the White Russian administration that briefly held Urga before the Mongolian People's Revolutionary government took power in July 1921. Whether obligations printed before that transition were honored by the incoming government remains a genuinely open question in Mongolian monetary history.