100 Rubļi

Latvia's first independent currency emission came under extraordinary pressure — the country was simultaneously fighting Soviet and German forces when these notes were authorized in 1919, and the Treasury was operating with almost no established financial infrastructure. The rublis served as a stopgap before the lats could be introduced.

The sheer number of signature combinations and series variants documented for P#7 reflects years of sustained printing rather than a single controlled issue. The Series U without watermark is a particularly notable anomaly — the change almost certainly indicates a paper supply problem rather than a deliberate design decision. Finding a confirmed unwatermarked Series U is meaningfully harder than the standard runs.