250 Roubles

Armenia's 1919 issues were produced under genuinely chaotic conditions — the First Republic was simultaneously fighting territorial wars with Azerbaijan and Georgia, managing a catastrophic influx of genocide survivors, and printing currency without a functioning central monetary system. The Yerevan Branch of the Government Bank operated with considerable autonomy precisely because communications with any higher authority were unreliable or nonexistent.

This note was lithographed locally in Erivan, which accounts for the relatively crude production quality common to the entire P#1–P#13 series. The short-lived republic collapsed in late 1920 when Soviet forces entered Yerevan, rendering the entire Armenian rouble issue worthless almost immediately after printing.