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5 Gold Roubles Transport certificate
| Issuer | Народный Комиссариат Путей Сообщения (NKPS - People's Commissariat of Railways) |
|---|---|
| Year | 1923 |
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| Value | 5 Gold Roubles |
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| Obverse description | A large steam locomotive with passenger train vignette occupies the lower portion of the note, rendered in fine intaglio line work. The central panel bears the large Cyrillic numeral denomination in ornate lettering above the text РУБЛЕЙ ЗОЛОТОМ ПО ОФИЦИАЛЬНОМУ КУРСУ, with the Soviet state emblem at upper centre. An axe and anchor device appears at upper right, the series and serial number are repeated at both upper left and upper right, and two manuscript signatures of the People's Commissar of Railways and the People's Commissar of Finance appear at lower centre. |
|---|---|
| Obverse lettering | ТРАНСПОРТНЫЙ СЕРТИФИКАТ ПЯТЬ РУБЛЕЙ ЗОЛОТОМ ПО ОФИЦИАЛЬНОМУ КУРСУ Настоящее беспроцентное заемное обязательство НКПС действительно до 1-го мая 1924 года. Погашение заемных ТРАНСПОРТНЫХ СЕРТИФИКАТОВ обеспечивается всеми доходами железных дорог и водного транспорта и гарантией Народного Комиссариата Финансов. Народный Комиссар Путей Сообщения Народный Комиссар Финансов 1923 г. Серия 13. |
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| Comments |
The NKPS transport certificates of 1923 were a direct consequence of the Soviet state's inability to pay its railway workers in stable currency during the chaotic early years of the NEP. The Commissariat of Railways effectively became its own issuing authority, producing these denomination certificates — redeemable against fares and freight charges — as a substitute wage instrument. This put them in an ambiguous legal position: not quite sovznaki, not quite the new chervonets-backed currency the State Bank was simultaneously trying to establish.
Circulated almost entirely within the railway network itself, these rarely escaped into general trade. That insularity is precisely why surviving examples are uncommon.