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50 Karbovantsiv

Issuer State Treasury of Ukraine
Year 1918
Type Standard circulation banknote
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Obverse description The obverse is printed in grey-green on a fine guilloche underprint ground. At centre, the large denomination numeral '50' appears above the Cyrillic inscription КАРБОВАНЦІВ within an ornate foliate frame. To the left stands a male peasant figure with a spade, and to the right a seated female figure with a sheaf of wheat, both in traditional Ukrainian folk dress. The Ukrainian trident (tryzub) state emblem appears at the top centre, flanked by decorative scrollwork, with the serial number printed twice at lower left and lower right.
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Reverse description The reverse is printed in rose-red on a pale guilloche underprint. A large central oval vignette contains a reclining allegorical female figure, surrounded by elaborate calligraphic scrollwork and rosette ornaments. The denomination '50' appears at upper left and upper right flanking the inscription КАРБОВАНЦІВ, while a guilloche rosette is placed at lower left and the trident state emblem at lower right. An anti-counterfeiting warning inscription is centred below the vignette.
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Ukraine's State Treasury issued this note during the brief period of the Ukrainian People's Republic, before the Bolshevik reconquest of Kyiv in early 1919. The 1918 karbovanets series was produced under severe wartime constraints — the newly proclaimed state had almost no functioning printing infrastructure, and several denominations were contracted or improvised under occupation and counter-occupation pressures that shifted month by month.

Pick 5 is among the more frequently encountered survivors of the series, largely because the notes were printed in quantity but circulated in an economy already collapsing under military disruption. Hoarding was common, which paradoxically preserved many examples.