2 Tögrög

The Mongolian Trade and Industrial Bank was established in 1924 as a joint Soviet-Mongolian venture, effectively making Goznak the natural choice of printer — the same Moscow facility producing Soviet state currency was simultaneously turning out Mongolia's first modern banknote series. The tögrög itself replaced the Chinese liang and a chaotic assortment of foreign currencies that had circulated in the country for decades, giving this 1925 issue genuine monetary-historical weight.

Goznak's intaglio work on this series is characteristically precise, and the watermarked paper is consistent with Soviet state production of the period. Pick records this as P#8 within the founding series.