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5 Chervontsev
| Issuer | State Bank of the USSR (Gosbank) |
|---|---|
| Year | 1922 |
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| Reference(s) | P#142 |
| Obverse description | The obverse is dominated by a large circular guilloche vignette at left centre incorporating the Cyrillic monogram «РСФСР» within an intricate multicolour underprint, surmounted by the Soviet state emblem. The denomination «ПЯТЬ ЧЕРВОНЦЕВ» is printed in large bold Cyrillic letters at upper right, with the numeral «5» in an ornate frame to the far right. Multiple columns of statutory text in Cyrillic script fill the lower portion of the note, accompanied by the date «1922» and manuscript signatures of Gosbank officials below the heading «Правление Государственного Банка». |
|---|---|
| Obverse lettering | БАНКОВЫЙ БИЛЕТ ПЯТЬ ЧЕРВОНЦЕВ Государственный Банк РСФСР Один ЧЕРВОНЕЦ содержит 1 зол. 78.24 дол. ЧИСТОГО ЗОЛОТА. Банковый билет подлежит размену на золото. Начало размена устанавливается особым правительственным актом. Банковые билеты обеспечиваются в полном размере золотом, драгоценными металлами, устойчивой иностранной валютой и прочими активами ГОСБАНКА. Банковые билеты принимаются по их нарицательной цене в уплату государственных сборов и платежей, взимаемых по закону в золоте. Правление Государственного Банка: Бухгалтер |
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The chervonets was introduced in late 1922 as the hard-currency anchor of the NEP monetary reform — theoretically backed 25% by gold and precious metals, the remainder by short-term commercial obligations. The 5-chervonets denomination was the largest issued in this inaugural series, intended for large-scale commercial transactions rather than retail use. Gosbank structured the whole series explicitly to restore confidence after the catastrophic hyperinflation of the sovznak period, when prices doubled weekly.
Printed by Goznak, Moscow. The series was demonetized in 1947 during the Soviet currency reform, which wiped out much of what had survived in private hands.