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#1
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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 ---------------------------------------------------- |
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#2
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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
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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/ |
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