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5 Chervontsev
| Issuer | State Bank of the USSR (Государственный Банк СССР) |
|---|---|
| Year | 1928 |
| Type | Standard circulation banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | БИЛЕТ ГОСУДАРСТВЕННОГО БАНКА СССР ПЯТЬ ЧЕРВОНЦЕВ ОДИН ЧЕРВОНЕЦ СОДЕРЖИТ 7,74234 ГРАММА ЧИСТОГО ЗОЛОТА ПРАВЛЕНИЕ: 5 (Translation: NOTE OF THE STATE BANK OF THE USSR / FIVE CHERVONETS / ONE CHERVONETS CONTAINS 7.74234 GRAMS OF PURE GOLD / BOARD:) |
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| Protection description | the numeral 5 with ornamental guilloche scrollwork, visible on the reverse when held to light. |
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| Comments |
The chervonets was reintroduced as a hard-currency instrument during the NEP period, formally backed by gold and foreign exchange — a deliberate architectural choice meant to stabilize Soviet finances after the hyperinflationary collapse of the early 1920s. By 1928, however, that convertibility was already being quietly abandoned as Stalin's industrialization drive reshaped monetary policy from the ground up.
Goznak had been the Soviet state's sole printing authority since 1919, inheriting the technical infrastructure of the Imperial Expedition for the Procurement of State Papers. The 1928 series was among the last chervonets notes printed before the denomination was effectively absorbed into the reformed ruble system of 1937.