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| Issuer | Ukrainian People's Republic |
|---|---|
| Year | 1918 |
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| Currency | Karbovanets (1918-1921) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 50 ШАГІВ УКРАЇНСЬКА НАРОДНЯ РЕСПУБЛІКА (Translation: 50 SHAHIV UKRAINIAN PEOPLE'S REPUBLIC) |
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| Reverse lettering | Ходить нарівні з дзвінкою монетою. (Translation: Circulates on a par with metallic coin.) |
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| Comments |
The Ukrainian People's Republic issued this 50 Shahiv as a small-denomination cardboard note in 1918, a period when the young republic was cycling through governments and facing simultaneous pressure from Bolshevik forces to the east and German and Austro-Hungarian occupation forces following the Treaty of Brest-Litovsk in February of that year. Under those conditions, establishing a functioning currency was as much a political act as an economic one.
The cardboard composition was a deliberate practical choice — the UNR lacked the infrastructure for quality paper currency production, and the rigid stock made small-denomination notes harder to counterfeit and easier to handle in daily transactions. The series circulated alongside German and Austro-Hungarian military currency throughout much of its brief life.