100 Roubles

Russian assignats were introduced under Catherine II in 1769 as a way to fund war expenditure without depleting the silver reserve — a compromise that eventually collapsed badly. By the time this note was issued, the assignat ruble had been trading at a severe discount against silver for decades, fluctuating around 3.5 assignat rubles to one silver ruble. The government knew the system was broken before 1819; this series was essentially printed during the slow-motion wind-down of a currency that had lost the public's confidence entirely.

Nicholas I finally abolished the assignat ruble in 1843 through a mandatory redemption at the entrenched discount rate, exchanging notes for new state credit rubles. Holders had no recourse on terms.