This listing is for the photographed 1898 Russian 1 Ruble Bank Note. Note is signed by Shipov and Protopopov, likely issued around 1915. Note was issued shortly before the fall of the Russian Czar in 1917. Note has a control number, rather than a full serial number, adding to its value. This notes block number ends with 9, indicating that it was issued by the Russian Soviet Federative Socialist Republic (R.S.F.S.R.). Very intricate design, a double-headed eagle on the left side of the obverse of this note, representing the Russian coat of arms, surrounded by ornamented columns. Very Fine (VF) condition, minor folds. Beautiful design and an amazing piece of history, excellent addition to any collection! P#15 (Pick Number 15).
In the years leading up to the Russian Revolution in 1917, the Russian Empire faced significant financial strain, primarily due to World War I. As Russia entered WWI in 1914, the costs of the war caused the government to abandon the gold standard and significantly increase the issuance of paper currency to fund military expenses. This led to an inflationary period, as the ruble’s value began to erode with the rapid increase in money supply. By early 1917, inflation and shortages contributed to economic hardship for the Russian populace. In essence, the years immediately before the revolution saw the issuance of increasingly devalued banknotes as the Russian Empire grappled with the financial burdens of a prolonged war. This ultimately weakened the economy and contributed to public discontent, which fueled the revolutionary movements of 1917.
Incredibly interesting piece of Russian History! Must have for any collection!
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1898 Russian 1 Ruble Bank Note - Shipov/Protopopov Signatures - End Block Number 9 - 1898 (1915) Russian One Ruble Note - P#15