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| 正面描述 | The face is printed in green on a light ground with a guilloche underprint. At left, a circular vignette bears the denomination '50 РУБЛЕЙ' within an ornate frame; at right, the municipal arms of Mineralnye Vody are displayed. The central panel carries the denomination '50' at upper corners and the legend 'ПЯТЬДЕСЯТ РУБЛЕЙ' in bold letterpress, with a text panel below stating acceptance conditions. Two facsimile signatures appear at the bottom, attributed to the mayors of Pyatigorsk and Kislovodsk. |
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| 背面描述 | The back is printed in green and pink, dominated by a classical architectural vignette of three arched colonnades with draped curtains. The denomination '50' appears in each corner, and the central arch frames the inscription 'ПЯТЬ-ДЕСЯТЬ РУБЛЕЙ' with the year '1918 г.' below. Flanking text panels provide guarantee and anti-counterfeiting information, and a single facsimile signature is placed to the lower right. The bottom margin carries the warning legend 'ПОДДЕЛКА ПРЕСЛЕДУЕТСЯ ЗАКОНОМЪ'. |
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Mineralnye Vody, a small spa town on the North Caucasus rail junction, became an unlikely issuer of emergency currency during the Civil War period when central banking had effectively collapsed across the region. The Municipal Council — like dozens of similar bodies across southern Russia in 1918 — printed its own fractional and low-denomination notes simply to keep local trade functioning. Coin had vanished from circulation almost entirely by mid-1918.
The S512 series from Mineralnye Vody is among the more obscure of the Caucasian municipal issues. Survival rates are unpredictable; many perished with the institutions that backed them.