250 Roubles

The Armenian 250 Rouble notes of 1919 were issued by the short-lived First Republic of Armenia, which had declared independence from the collapsing Russian Empire only in May 1918. The Yerevan branch designation reflects the fledgling government's attempt to establish functioning financial institutions while simultaneously fighting a war on multiple fronts — against Ottoman forces, Azerbaijani troops over disputed territory, and the economic chaos of a near-total blockade.

The series was printed locally under severe material constraints. Paper quality varies considerably across surviving examples, a direct consequence of wartime supply shortages rather than any post-issue deterioration.