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25 Roubles Lottery Bond, 1948
| Issuer | USSR Ministry of Finance |
|---|---|
| Year | 1948 |
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| Size | 128 x 90 mm |
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| Obverse description | The USSR State coat of arms in red intaglio occupies the upper left, flanked by intaglio vignettes of industrial and agricultural scenes — factories, a hydroelectric dam, and a tractor — forming a continuous underprint border. The denomination ДВАДЦАТЬ ПЯТЬ РУБЛЕЙ is printed in large red letterpress across the centre, above the date 1948 and the разряд (class) designation printed twice. |
|---|---|
| Obverse lettering | ОБЛИГАЦИЯ СЕРИЯ СССР ТРЕТИЙ ГОСУДАРСТВЕННЫЙ ЗАЕМ ВОССТАНОВЛЕНИЯ И РАЗВИТИЯ НАРОДНОГО ХОЗЯЙСТВА СССР ОБЛИГАЦИЯ НА СУММУ ДВАДЦАТЬ ПЯТЬ РУБЛЕЙ Разряд 180 1948 |
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| Comments |
The 1948 lottery bonds were part of a series of compulsory state loans that Soviet workers were effectively required to purchase through payroll deductions — participation was technically voluntary, but refusal carried obvious professional risks. These instruments blurred the line between taxation and investment, promising lottery-style prize draws in lieu of reliable interest payments.
Goznak had printed state lottery and loan paper continuously since the Tsarist period, and the 1948 series followed the postwar monetary reform of December 1947, which had wiped out much of the population's cash savings at punishing exchange ratios. Selling lottery bonds to the same public immediately after that reform was a calculated move.