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5 Roubles
| Issuer | People's Commissariat of Finance of the USSR |
|---|---|
| Year | 1934 |
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| Composition | Log in to see details |
| Size | 134 × 69 mm |
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| Obverse description | State Treasury Note of the USSR with the denomination ПЯТЬ РУБЛЕЙ (Five Roubles) inscribed in seven languages across the face. The Soviet coat of arms, with seven ribbon bindings on the wreath corresponding to the seven Union Republics of the period, is rendered in an engraved vignette at centre. The overall design is framed by fine guilloche borderwork typical of Soviet treasury note production. |
|---|---|
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| Reverse lettering | 5 |
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| Comments |
The 1934 Soviet treasury note series — issued by the Narkomfin rather than the State Bank — reflected a deliberate policy choice to keep small-denomination notes outside the formal credit-money system. Treasury notes of this type carried no promise of exchange into gold or silver, a distinction that mattered enormously in the mid-1930s as the USSR quietly dismantled whatever remained of convertibility commitments from the NEP period.
The print run of just over twelve million is modest by Soviet standards, and the series was superseded relatively quickly by the 1938 issue. Survivors in any condition are less common than the print figure suggests — wartime paper drives accounted for significant losses across the small-denomination treasury notes.