50 000 Kuponi

Georgia's early 1990s cupons were never meant to be permanent — introduced as a parallel currency alongside the Soviet ruble as the country scrambled for monetary footing after independence, they were always transitional instruments. Rampant inflation drove denominations upward almost annually; the 50,000 coupon note exists precisely because earlier low-denomination issues had become essentially worthless within months of printing.

The series was superseded by the lari in 1995 at a conversion rate of one million cupons to one lari — a ratio that encapsulates the inflationary damage of the period neatly.