25 Roubles Soviet Socialist Republic of Armenia - Aleksandropol

Aleksandropol — now Gyumri — was briefly under Armenian Republican control in 1919 before Soviet forces consolidated power in late 1920. The Aleksandropolsky Gorodskoy Obshchestvennyy Bank was a municipal institution issuing local emergency scrip during a period when the Transcaucasus was cycling through overlapping authorities, currencies, and military occupations. Notes like this one filled a vacuum left by the near-total collapse of usable circulating medium.

Local printing in Alexandropol meant limited press technology, and the S691 series shows it — typography is rudimentary, security features essentially absent. The Treaty of Alexandropol, signed November 1920 after the Turkish military campaign, rendered this entire municipal currency apparatus immediately obsolete.