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| 正面描述 | Green guilloche underprint covers the entire field, enclosed within a chain-link border. A central cartouche of ogival form, printed in red, contains multi-line Arabic script text arranged in three registers. Denomination numerals appear in the upper left and right corners in red ink against the green wavy-line guilloche background. |
|---|---|
| 正面铭文 | ٢٠٠ |
| 背面描述 | 登录 以查看详情 |
| 背面铭文 | 登录 以查看详情 |
| 签名 | 登录 以查看详情 |
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| 备注 |
Khorezm — the short-lived Soviet republic carved out of the former Khanate of Khiva in 1920 — had an almost comically unstable monetary situation throughout its brief existence. This 1919 issue predates the formal proclamation of the republic itself, placing it in the transitional chaos between the collapse of Khivan khanate authority and Soviet consolidation of the region. The treasury was issuing paper against essentially no functioning reserve.
Khorezm went through multiple currency reforms before being absorbed into the Soviet Union in 1924, and most of these early tengas issues were superseded rapidly and discarded. Survivors are consequently scarce, though condition varies wildly given the low paper quality common to emergency provincial issues of the period.