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5 Roubles - Perforated North Russia - Chaikovskiy Government

Issuer Provisional Government of the Northern Region (Chaikovskiy Government)
Year 1919
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Value 5 Roubles
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Obverse description Imperial Russian State Credit Note of 1909 requisitioned for use by the Provisional Government of the Northern Region and validated by cancellation perforations. The face carries the Imperial double-headed eagle within an ornate intaglio frame of floral scrollwork over a guilloche underprint, with the denomination ПЯТЬ РУБЛЕЙ in bold Cyrillic lettering at centre and the State Bank gold-redemption guarantee text below. Two manuscript signature lines for the Manager (Управляющий) and Cashier (Кассир) appear beneath, with the serial number repeated at the foot of the note.
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Protection description Cancellation or validation perforations applied by the Provisional Government of the Northern Region to distinguish circulating notes from Imperial-era stock
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Comments

The Provisional Government of the Northern Region was established in Arkhangelsk in August 1918 under Allied occupation, with Nikolai Chaikovsky — a veteran Socialist Revolutionary turned anti-Bolshevik — as its nominal head. Currency was an immediate problem. With Bolshevik notes deemed unacceptable and no functioning northern printing infrastructure, the government improvised by perforating existing Romanov-era and Provisional Government roubles to validate them for local use rather than striking entirely new issues.

The perforation itself is the defining feature here — its presence distinguishes an authorized instrument from ordinary circulating stock. Forgeries of the perforation pattern are known.

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