500 Tengas Treasury

The Emirate of Bukhara issued paper currency in its final years under Emir Said Alim Khan, as the collapsing regional economy and the pressures of Russian Civil War-era disruption made coin-based trade increasingly impractical. These emergency treasury notes were produced under desperate conditions and circulated within a monetary system already on the verge of collapse — the Bukharan People's Soviet Republic was proclaimed in 1920, effectively ending the emirate.

Survival rates are low. Notes from this issue suffered both from poor-quality wartime paper and from the political rupture that followed, which removed any incentive for organized preservation.