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| Issuer | Russian Soviet Federative Socialist Republic (RSFSR) |
|---|---|
| Year | 1922 |
| Type | Standard circulation banknote |
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| Obverse description | Printed in dark blue on a light guilloche underprint, the obverse centres the RSFSR state emblem — hammer, sickle, and rising sun within a laurel wreath — at upper centre, surrounded by elaborate lathe-work borders enclosing large numeral "50" counters at each corner and along the sides, with "РУБЛЕЙ" flanking the central text panel. The central legend reads "ГОСУДАРСТВЕННЫЙ ДЕНЕЖНЫЙ ЗНАК" above the denomination "ПЯТЬДЕСЯТ РУБЛЕЙ" in bold letterpress, followed by the guarantee clause and two facsimile signatures of the People's Commissar of Finance and the State Cashier. A two-letter serial prefix with number appears below the signature panel. |
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| Obverse lettering | ГОСУДАРСТВЕННЫЙ ДЕНЕЖНЫЙ ЗНАК ПЯТЬДЕСЯТ РУБЛЕЙ ОБЕСПЕЧИВАЕТСЯ ВСЕМ ДОСТОЯНИЕМ РЕСПУБЛИКИ НАРОДНЫЙ КОМИССАР ФИНАНСОВ КАССИР 50 РУБ РУБЛЕЙ |
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| Comments |
The 1922 RSFSR note series emerged from one of the most chaotic monetary environments in modern European history. By that year, Soviet Russia had already printed so many millions of the earlier "sovznaki" that inflation had rendered smaller denominations functionally worthless — the 1922 redenomination replaced 10,000 old roubles with one new one, a ratio that barely made a dent in the underlying crisis.
Goznak, the Soviet state printing works established in 1919, produced this series as Russia lurched toward the more stable chervonets system introduced later that same year. The P#132 series was itself short-lived, superseded before it could establish any meaningful circulation depth.