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3 Roubles Elisabetgrad

Issuer Elisavetgrad Branch of the State Bank
Year 1918
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Shape Rectangular
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Obverse description The obverse is centred on a text panel carrying the full issuing authority inscription of the Elisavetgrad Branch of the State Bank, surmounted by the Cyrillic denomination ТРИ РУБЛЯ and the date 1918 at top centre. To the left, an eagle vignette holds a heraldic shield, while to the right a classical female bust in laurel wreath provides a counterbalancing vignette. Two manuscript signatures for the branch manager and cashier appear below the central text, with an anti-counterfeiting cartouche legend along the lower margin.
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Reverse description The typographic reverse is enclosed within an ornamental border of repeating guilloche medallions and arabesque corner pieces. A bold central cartouche displays the denomination 3 РУБЛЯ in large Cyrillic characters, with the anti-counterfeiting legend repeated within a rectangular panel at top centre. A text block along the lower margin declares that all banks in the city of Elisavetgrad accept these exchange notes for all types of payments in any amount.
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Elisavetgrad — now Kropyvnytskyi in central Ukraine — was one of dozens of regional centres that found itself administratively stranded during the collapse of central authority in 1918. The local branch of the State Bank issued these notes under conditions of profound institutional uncertainty, caught between successive waves of Bolshevik, Ukrainian People's Republic, and White forces passing through the region. Branch-level emissions like this one were technically unauthorized under any of the competing governments claiming jurisdiction at the time.

P#S323A is a scarce type. The "S" prefix in the Pick reference places it firmly in the South Russia/Ukraine local issues category, and genuine examples are difficult to authenticate against the numerous crude contemporary imitations that circulated alongside official branch notes.

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