5 Roubles Transcaspian Region

The Transcaspian Provisional Government was a short-lived anti-Bolshevik administration that controlled the region around Ashkhabad from 1918 to 1919, backed at various points by British forces operating out of Meshed. Its currency issues were emergency measures — the Ashkhabad branch of the People's Bank had neither the infrastructure nor the time for anything elaborate, and the notes reflect that urgency.

The government collapsed in July 1919 when Red Army forces retook the region, leaving this entire series with an effective circulation window of under a year. Surviving notes are genuinely scarce, not because of collector demand inflating their rarity, but because the issuing authority ceased to exist before the notes could accumulate.