A collecting forum. CollectingBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » CollectingBanter forum » Collecting newsgroups » Paper Money
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Russian Ruble



 
 
Thread Tools Display Modes
  #1  
Old June 24th 08, 09:46 PM posted to rec.collecting.paper-money
Giovanni C. Pettinaro
external usenet poster
 
Posts: 75
Default Russian Ruble

One of the most interesting collection of paper money is the one
issued by Russia. On the Krause catalog it is difficult to capture the
how nice the various issues of Rubles are. It is also not well
explained why the early 1900 issues are more common than the those of
the 1920s and 1930s.

Russia has issued paper money as far back as 1769 with its series of
assignats. However, as far as normal collectors are concerned, most of
the 18th and 19th century notes have quite prohibitive prices even in
low grades. What could constitute a nice starting point for someone
who wants to begin to collect Russian notes is the 1898-1915 series.
Such a series still recalls the design of the Tzarist era notes as the
Tzar was still the head of state up to his execution. There are
several signature varieties available (Pleske[-1903],
Timashev[1903-1909], Konshin [1909-12], Shipov[1912-17]). Although not
common in general (except the Shipov signature), they can all be found
in high grades even UNC, if you are prepared to spend a little bit
(let's in the range of $500-$1500). Shipov signed notes can be found
for much less.

This series of notes was introduced in 1898 following a currency
reform in December 17, 1885. Such a reform basically pegged the
Russian Gold Ruble to the French Franc at a rate of 1 Ruble = 4 Francs.
However, such a rate was revised already in 1897 when the rate was
fixed at 1 Ruble = 2 2/3 Francs.

After the end of WWI, the gold standard was abandoned and the Ruble
suffered a heavy hyperinflation as many other Countries in Europe in
that period. Normal notes were not enough anymore and even short term
Obligations and Debenture Bonds were necessary in ever growing
denominations. During this period it is worth mentioning the attempt
which the Russian Aristocratic expatriots tried in order to fund a
return of the monarchy in Russia. The series of notes they ordered to
the ABNC had a very nice design, recalling a little bit the American
Dollars of the early 20th century. The entire set was made of 25, 50,
100, 250, 500, and 1000 Rubles. However, just the 25 and 100
denominations were delivered and briefly circulated, The other ones
remained in the form of specimen, very rare indeed. (You can view them
in my web site http://www.papermoneymarket.com under Russia.)

In 1918 an entire series of State Treasury Notes was issued which was
replaced the year after by a new series which in turn lasted up to the
new currency reform of January 1, 1922. In this reform, a new Ruble of
1922 was redenominated in place of 10000 Old ones. However, even this
new redonomination did not last long, as Russian economy was at
its knees. In 1923 a new redonomination took place: 1 New Ruble = 100
Old 1922 Rubles. It is actually in 1923 that the first Soviet notes
appeared and it is in 1923 that the normal prices stop. After that
period it was almost impossible to take out of the Country money in any
form and considering the large size of the notes, it was basically
impossible to keep them unfolded.

On March 7, 1924 took place the first Soviet currency reform,
substituting 50000 Old 1923 Rubles with the new Soviet Gold Ruble. The
government started issuing in that period also a different currency:
the Chervonets worth 10 Gold Rubles.

All the issues up to 1923 can be obtained rather easily without
spending much. Of course there are exception such as the 1918 ABNC
series, or the various short term certificates, obligations, or
bonds. From 1924 till 1928, all the issues range between rare and
extremely rare in any grade and hence their prices are outragiously
high, especially in high grades. Recently have appeared also some
official reproduction of 5 Chervonetsev of 1928 which can make happy
those collectors who are unable to afford the real original ones.

In 1938, a new reform took place which redenominated the Gold Rubles
simply with Ruble. Chervonets was still circulating in this period
alongside the Gold Ruble first and Ruble then. This is explained by
the fact that de facto 1 Chervonets was worth 10 Gold Rubles or simply
10 Rubles. The series of 1934 is not common but could still be
found. The one of 1938 is, instead, more common. In 1937 the series of
Chervonets depicting Lenin is getting rather elusive, and this is
the prelude to become rare themselves.

After WWII (1947), a new redenomination of the ruble took place. The
government implemented a confiscatory redenomination of the currency:
one new Ruble was worth 10 Old Ones. This series of Rubles, although
not as common as some years ago, can still be found in UNC grade
for a reasonable price. The same applies for the same series re-issued
in 1957.

In 1961, a new redenomination similar to the 1947 one took place:
revaluating the ruble 10 to 1 with respect to the pre-1961 issue. This
series of notes is rather common although you can already notice the
signes that this series will not much longer from now follow suit its
predecessors in terms of rarity.

From 1961 till 1991, the ruble was artificially kept at a high value
with respect to western currency, and in fact when in 1989 the
historical events accelerated the falling of the previous regimes, the
rubles started a spiralling hyperinflation which ended in the economic
crisis of 1998. In that Summer, a new reform took place redenominating
the New Ruble as 1000 Old ones. Since then, the Ruble had an initial
fall, but after the enormous amount of money earned by the sale of
oil, coal, natural gas, and other natural resources, it started
gaining weight and today it is not anymore a soft currency but it is a
rather hard one. A sign of this is the late issuing of a denomination
of 5000 Rubles not because of hyperinflation but because the new rich
people needed high denominations for their expenditures of luxury
goods.

Well, dear friends, I hope I got some of you interested in collecting
russian notes. If you want to have a look at some of the notes I have
mentioned to you earlier, then go to my website in the section of
Russia and of course if you are interested in starting collecting them,
then let me know.

Best regards to all and happy collecting,
Dr. Giovanni C. Pettinaro
(IBNS LM-166, LANSA 1173).

----------------------------------------------------
Pettinaro Bros. World Ppaper Money Market,
http://www.papermoneymarket.com
----------------------------------------------------
Ads
  #2  
Old June 24th 08, 11:11 PM posted to rec.collecting.paper-money
scottishmoney
external usenet poster
 
Posts: 240
Default Russian Ruble


"Giovanni C. Pettinaro" wrote in A sign of
this is the late issuing of a denomination
of 5000 Rubles not because of hyperinflation but because the new rich
people needed high denominations for their expenditures of luxury
goods.

Before the dollar started it's downward spiral, the most useful currency in
Russia was the dollar. Even in the USSR, if a vendor suspected you could
pay in dollars, that is what they wanted. One time I was buying something
in a food market from an older lady, and had no rubles, but offered her
three dollars, she was leary about taking them, until her friend yelled to
her "You fool, that is good money, take it!"


  #3  
Old June 26th 08, 12:05 AM posted to rec.collecting.paper-money
www.numismatic.biz / www.worldwidecoins.co.uk www.numismatic.biz / www.worldwidecoins.co.uk is offline
Banned
 
First recorded activity by CollectingBanter: Jul 2006
Posts: 29
Default Russian Ruble


"Giovanni C. Pettinaro" wrote in message
...
One of the most interesting collection of paper money is the one
issued by Russia. On the Krause catalog it is difficult to capture the
how nice the various issues of Rubles are. It is also not well
explained why the early 1900 issues are more common than the those of
the 1920s and 1930s.

Russia has issued paper money as far back as 1769 with its series of
assignats. However, as far as normal collectors are concerned, most of
the 18th and 19th century notes have quite prohibitive prices even in
low grades. What could constitute a nice starting point for someone
who wants to begin to collect Russian notes is the 1898-1915 series.
Such a series still recalls the design of the Tzarist era notes as the
Tzar was still the head of state up to his execution. There are
several signature varieties available (Pleske[-1903],
Timashev[1903-1909], Konshin [1909-12], Shipov[1912-17]). Although not
common in general (except the Shipov signature), they can all be found
in high grades even UNC, if you are prepared to spend a little bit
(let's in the range of $500-$1500). Shipov signed notes can be found
for much less.



RE The series of notes 1898 to 1915 Pick 1 to 23

I bought circa 1985 about 8000 banknotes mostly EF - UNC
pick numbers 1,5,8,9,10,11,12,13,14,15,20,21,22

from a guy who was in charge of clearing out the old British Gas
shop in Bold Street Liverpool UK which was a bank many years before

What a find in the basement was boxes and safes full of old banknotes
..documents etc..

Russian Banknotes
British War time 1 Pounds and post war time Circa 1950s
white five pound notes 10 shilling notes
plus bags of pre 1947 silver coins

I've got upon ebay now 1 of the five pound notes I bought in 1985
still got left 53 of them

I bought British notes face valve 3458 GBP (mainly blue £1)
all the Russian of which I still have( only sold about 1000 pieces)

All the wood work minors fireplaces etc I bought the lot

Now you could not rip out a building like that such a waste
the marble wall and floor tiles brass work etc... all skipped (trashed
dumped)

In the 1980's many fine buildings in Liverpool were ripped out and so called
modernized

I remember the builders (men) burning the banknotes and books/documents
(Indentures)
to keep warm


Had many great buys during the 1980's

and mostly for peanuts


Ask what else I bought I'll tell you a few stories
all true and some truly unbelievable

most of the coins and banknotes I sell on ebay was bought by
me over 10 years ago some 20 years

such as the two notes from Cyprus I bought in 1992 see my ebay listings

Yours


--
Michael @ www.worldwidecoins.co.uk
mirror site www.numismatic.biz

World Banknotes & Coins
eBay http://members.ebay.co.uk/aboutme/worldwidecoins/









 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Correct weight of Russian 5 ruble coins Nicholas II? Bob Hairgrove Coins 7 May 17th 05 02:01 AM
Russian 1 ruble Olympic coins from 1980 Dennis G. Rears Coins 0 September 4th 04 04:20 AM


All times are GMT +1. The time now is 05:38 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 CollectingBanter.
The comments are property of their posters.