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| Issuer | Russian Soviet Federative Socialist Republic (RSFSR) |
|---|---|
| Year | 1921 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Protection description | repeated '250' numerals interspersed with star motifs, visible in the paper when held to light. |
| Variants | P#110a - watermark: "250" P#110b - watermark: Stars |
| Comments |
The 1921 RSFSR note issues emerged from a period of catastrophic monetary collapse — by 1921, the Soviet government had printed so much currency to finance the Civil War and War Communism that the rouble had lost the overwhelming majority of its pre-war value. This particular series belongs to the transitional phase just before the 1922–1924 monetary reform, which eventually introduced the chervonets and attempted to stabilize what remained of a functional currency system.
The watermark is one of the few concessions to anti-counterfeiting discipline still maintained during this chaotic production period, when printing capacity was badly strained and paper supply inconsistent.