25 000 Roubles Federation of Socialist Soviet Republics of Transcaucasia

The Federation of Socialist Soviet Republics of Transcaucasia — encompassing Armenia, Azerbaijan, and Georgia — existed as a distinct political entity for only a brief window before being absorbed into the USSR in late 1922, though it continued issuing its own currency into 1923 as administrative consolidation lagged behind political decree. This note belongs to that awkward transitional moment when the federation was technically already subordinate to Moscow but still operating its own monetary apparatus.

Transcaucasian currency suffered catastrophic inflation during this period, which explains denominations reaching into the tens of thousands. The 25,000-rouble figure was not extraordinary purchasing power — it was a symptom of a currency in free fall.