Catalog
500 Marka
| Issuer | Eesti Wabariigi (Republic of Estonia, Treasury) |
|---|---|
| Year | 1919 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse presents a treasury bond-style layout with an ornate guilloche border framing the entire note, with the denomination '500' repeated in each corner. The central text field carries the heading 'EESTI WABARIIGI 5% WÕLAKOHUSTUS' in bold letterpress, with a serial number below and a body of text in Estonian and parallel marginal inscriptions in English, German, and French. Two manuscript signatures appear at the lower centre above the printed titles 'Peaminister' (Prime Minister) and 'Rahaminister' (Finance Minister), with a third signature to the right above 'Riigikassa ülem' (Head of the State Treasury), all beneath the legend 'EESTI AJUTISE WALITSUSE NIMEL'. |
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| Obverse lettering | SEERIA D Tähtpäew 1 juulil 1919. Mk. 500.— EESTI WABARIIGI 5% WÕLAKOHUSTUS Selle öttenäitajale maksetakse 1 juulil 1919 Eesti Wabariigi kassast Wiissada marka. EESTI AJUTISE WALITSUSE NIMEL Peaminister Rahaminister Riigikassa ülem 500 |
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Estonia's first independent currency issues were produced under severe constraints — the newly declared republic had no established central bank and no domestic printing infrastructure capable of handling banknote production in 1919. The marka was pegged nominally to the Finnish markka, though in practice wartime inflation made any fixed relationship largely theoretical. Soviet forces were still fighting in eastern Estonia when these notes entered circulation.
P#18 is among the higher denominations of the earliest Treasury series, issued by the state directly rather than through a banking institution. The series was superseded when the Bank of Estonia (Eesti Pank) took over currency issuance in 1920, giving the entire Treasury marka run an unusually short active life.