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5 Roubles
| Issuer | Narkomfin (People's Commissariat of Finance), RSFSR |
|---|---|
| Year | 1923 |
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| Size | 121 × 75 mm |
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| Obverse description | The note is printed entirely in green on white paper. The central field bears the large Cyrillic numeral denomination «ПЯТЬ РУБЛЕЙ» (Five Roubles) flanked by large ornamental «5» numerals on each side, with the RSFSR state emblem above the central text block. An elaborate guilloche border frames the design, with foliate scroll-work at the corners and the date «1923» inscribed at top and bottom. Two signature lines — for the People's Commissar of Finance and the Cashier — appear below the central inscription, with the series and serial number «АБ-1036» printed twice at foot. |
|---|---|
| Obverse lettering | ГОСУДАРСТВЕННЫЙ ДЕНЕЖНЫЙ ЗНАК ПЯТЬ РУБЛЕЙ ОБЕСПЕЧИВАЕТСЯ ВСЕМ ДОСТОЯНИЕМ РЕСПУБЛИКИ Народный Комиссар Финансов Кассир 1923 |
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| Comments |
The RSFSR 1923 currency series appeared during the Soviet state's first serious attempt to stabilize money after years of hyperinflationary collapse. The sovznaki — the earlier Soviet paper issues — had become so worthless that wages were measured in millions; by 1923, the Narkomfin was issuing transitional ruble notes while simultaneously preparing the chervonets system that would eventually replace the entire sovznak base. This note belongs to that awkward interim period, circulating alongside denominations that differed in real purchasing power by orders of magnitude depending on the week.
The 1923 series was superseded within months by the 1924 monetary reform, which fixed the exchange rate at 50,000 1923 rubles to one new gold-backed ruble.