Where did the first paper money appear? The first paper money: where it appeared and what it looked like. In what form did money originally appear?

07.09.2023

The first paper money appeared in China in 910 ad. They had a slightly different appearance and were different from the modern paper ones we are used to. They looked like sheets of paper, approximately A4 size, and were issued as a kind of document to merchants.

The thing is that merchants who transported money over long distances were faced with the problem of transporting the metal money itself. Therefore, the imperial court made such an extremely reformist decision at that time, to replace metal money with a document confirming a certain amount. This was created for convenience and simplification of trade. The state acted as the guarantor of such money. Naturally, they were in great demand among traders, but ordinary people did not really like them, giving preference to metal money or even goods, such as silk. This is understandable; such innovation, and even regarding money, will always be met with hostility. As an example. They are confidently conquering the market, but everyone still doesn’t trust them, it takes time. It is noteworthy that even then, money was counterfeited, so the first paper money had security marks (watermarks, special paper, specific paint). They depicted birds, animals, people, landscapes.

Chinese traders brought paper money to Europe and introduced the culture of “such money”. As for where the first paper money appeared in Europe, opinions differ. On the one hand, the British claim this, claiming that they issued the first “pieces of paper” in 1664. Others argue that the first paper money in Europe appeared in Sweden in 1661.
In Russia, the first paper money was introduced by Catherine II in 1769.

This is the story of the appearance of the first paper money. If you know any interesting facts on this topic, share them in the comments!

The very first paper money in the world was produced by the Chinese. This happened at the beginning of the ninth century AD. Ancient paper money was large rectangular sheets with sides measuring approximately twenty by thirty centimeters.

The emperors of China have tried before to replace money made from metals with more convenient and affordable ones. The first attempts date back to the first century BC. Then parchment was used as a material. There was a whole series reasons that led to the introduction similar innovation:

Copper. In China, banknotes were made primarily from copper, which was one of the most sought-after metals of that time period. Therefore, replacing the material made it possible to use the valuable metal for other needs.
"Heaviness" of calculations. The average wallet among merchants began to weigh from three kilograms. And large transactions could be accompanied by a whole convoy of means of payment.
Development of the paper industry. Paper is a fairly durable, cheap and lightweight material. Which led to the complete replacement of parchment and parchment money.
State income. The value of the banknotes was guaranteed by the imperial authority. But for this, during the exchange, officials charged a legally established percentage.

Distribution history

The first paper banknotes of China were issued exclusively for large amounts of 1000 conventional units. Therefore, they were used mainly by merchants. But around the thirteenth century, banknotes accessible to the general population were introduced into circulation.

At the same time, this innovation was also appreciated by the Mongols. Over a fairly quick period, they switched to using paper certificates and brought them to the conquered territories. But there paper money quickly depreciated and did not cease to be in demand.

Japan introduced paper currency already in the fourteenth century, also in the form of bills of exchange for large sums. But by the seventeenth century, a monetary reform had been carried out, leading to the widespread use of paper for making money.

In Europe The merits of the bills were appreciated, but due to the undeveloped paper industry, tanned animal skins were used as the main material. And only at the end of the sixteenth century, in the besieged city of Leiden (the territory of modern Netherlands), paper was first used. The reason was the lack of metal and leather due to the length of the siege.

The first official money was issued from paper in Stockholm already in 1660. Their developer was the banker Johann Palmstruch. A year later, British banks began issuing banknotes.

When did they start printing money in Russia?

The use of printed banknotes has begun in Russia in 1769 under Catherine II. It was on her orders that half a million metal rubles were sent to the main banks of Moscow and St. Petersburg.

And paper bills of various denominations were issued for the same amounts. In this way, money was protected from depreciation and inflation.

By the middle of the nineteenth century, Russia had completely switched to paper money. For comparison: in Europe this happened only towards the end of the nineteenth century, and in the USA - in the thirties of the last century.

Do you know when books appeared and what they looked like?

There is less and less cash in our wallet, but this is not due to a deterioration in our standard of living. The fact is that paper money is becoming a thing of the past, giving way to plastic cards. Let's remember where and when the first banknotes appeared.

China

They learned about the appearance of paper money in Europe thanks to Marco Polo. The famous traveler, after traveling through Asia (13th century), talked about how banknotes were issued in China from the bark of the mulberry tree with a bright red imperial seal.

The first paper money had its advantages. For example, they made taxes easier to collect and transport than heavy coins. The introduction of banknotes took place in several stages. To support the new currency, in 1273 the Chinese government made payments only in paper money. All silver and gold were obligatory exchanged among the population, and even foreign merchants were obliged to hand over their wealth and receive government banknotes in return.

Interestingly, the Chinese still abandoned the new paper money system. The return occurred only at the beginning of the 20th century, when the economic colonization of the Middle Kingdom began.

Introduction to Hyperinflation

The predecessors of banknotes in the West are considered to be promissory notes, which had no independent value. The papers indicated the presence of a certain amount of money available for receipt from the issuing bank. Issuing a large number of coins was not always affordable for the state, especially after protracted wars, so such receipts could provide information about solvency.

The first paper money appeared in Europe in 1661. The founder of the Stockholm Bank, Johann Palmstruch, proposed the creation of a monetary unit. Too many banknotes were printed, which led to their depreciation and hyperinflation. Due to his bad experience, Palmstruch ended up in prison.

Russian empire

Russian paper money was introduced under Catherine II. Payment orders, or banknotes, were issued in denominations of 100, 75, 50 and 25 rubles, and the banks established by the empress exchanged them for the corresponding amount in silver.

The process of introducing the population to new monetary units was quite difficult due to distrust and a large number of counterfeits from “traditional craftsmen”. The situation changed thanks to the silver ruble, to which the value of paper money was tied in the mid-19th century. In addition, watermarks began to be applied to black and white banknotes, which slightly reduced the interest of scammers.

The official version of the emergence of new means of payment was considered to be a reduction in the cost of their issue. In fact, the wise ruler decided in this way the issue of replenishing the treasury for the preparation of the Russian-Turkish war.

The appearance of banknotes was constantly changing. New security elements and individual numbers appeared, and portraits of emperors were used as decoration.

Kankrin reform

The banknotes were replaced by the silver ruble, declared the main coin after the first stage of monetary reform in 1839. Banknotes, in turn, faded into the background. According to the plan of the Minister of Finance E.F. Kankrin, a constant exchange rate was established for banknotes in order to gradually withdraw them from circulation.

However, paper money did not disappear completely. The government established a Deposit Office, which accepted coins for deposits and issued deposit tickets in return.

At the second stage of the Kankrin reform, due to economic necessity, credit notes were issued. Thus, after 1841 there were three types of banknotes in circulation, and two years later only banknotes remained.

The stable monetary circulation created thanks to the reform was undermined due to the Crimean War. The uncontrolled issue of banknotes led to the cessation of their free exchange for gold and silver.

Before the revolution

Russia continued to issue paper money, and by 1861 their quantity exceeded state budget profits several times. A year later, the government fixed a 1:1 exchange rate between the ruble and silver. However, the exchange process was stopped due to a stir among the population.

Nicholas II, who ascended the throne, urgently had to put the financial system in order, so some innovations were adopted regarding credit notes:

Link to gold.
Numbering.
High-quality paper and advanced manufacturing technologies.
Signatures of bank managers.
New denominations.

The events that occurred after 1914 are well known to us. First, the country entered the First World War, then the revolution and the abdication of the emperor - all this could not but affect the financial situation in the country. The Provisional Government needed more funds, and the uncontrolled issue of banknotes led to their depreciation.

USSR

The lack of cash in the mid-20s led to the issuance of new banknotes in denominations of 5, 3 and 1 ruble. USSR paper money contained inscriptions in six languages of the republics that were part of the state.

The banknotes featured complex designs and images consistent with the ideology. For example, rubles of the 1925 model had a portrait of a worker, and in 1937-1938 a pilot, a Red Army soldier and a miner appeared on banknotes.

The next monetary reform took place in 1947. First of all, the government abolished the rationing system for the supply of industrial and food products. When exchanging for one new ruble they gave ten old ones, but the population was not notified about the reform. The money supply, according to experts, has decreased at least three times.

1961 reform

To improve the monetary system in 1958, the government again discussed monetary reform, but, unlike the previous time, the population was informed in advance. After the signing of the decree on May 4, 1960, the influx of deposits into savings banks in the country sharply increased, and the revenue of stores where furs and jewelry were sold jumped several times.

New banknotes began to be issued on January 1, 1960, and the exchange process was launched at the same time. Thanks to the large number of points, after two months, 90% of the old paper money was withdrawn.

The simplest design was the one ruble banknote, on which only a geometric pattern was applied. The three-ruble note was decorated with a panorama of the Kremlin, and the five-ruble note was decorated with the Spasskaya Tower. Large banknotes featured a portrait of Lenin and an additional image. For example, the 100 ruble note contained one of the Kremlin towers and cathedrals in the background, and the 50 ruble note contained the Kremlin Palace.

End of an era

By the time of the collapse of the Soviet Union in 1991, none of the republics had planned to issue their own notes, so USSR paper money remained in circulation for several years.

In 1993, a reform was carried out in the Russian Federation, new banknotes were issued, which had no fundamental differences from the Soviet ones.

In 1997, the government announced the denomination. During the exchange, the population received banknotes with a face value a thousand times smaller. We still use these banknotes today. Further updates concerned only additional security elements (micro-perforations, metallized stripes and luminescent patterns).

Only in 2014 they made an exception in honor of the Olympics in Sochi. The new 100 ruble banknote, dedicated to sports competitions, was decorated with a fabulous firebird and an image of the Fisht stadium on the reverse, and on the front side - a snowboarder in flight.

USA

In other countries, many metamorphoses also occurred with the national currency, although some still managed to avoid this. In the United States of America, legal tender is banknotes issued since 1861.

The largest bill in circulation is considered to be the $100 bill, but you can find valid banknotes of other denominations (500, 1000, 5000 and even 10,000) that were issued before 1945. Their price at auctions is two to three times higher than the indicated face value.

Watermark

Since the introduction of banknotes into circulation, the question has arisen about the need to protect them from fraudsters. There were constant attempts to counterfeit ancient paper money, and one of the first obstacles was the appearance of a watermark. These are light and dark images visible in the light.

Today, not a single banknote can do without this security element. Depending on the location, the watermark can be:

Local (located in a specific location);

General (pattern repeated over the entire area of the banknote).

The element is obtained by pressing a special roller during the paper making process.

Vivid examples

According to statistics, in our country 1000 ruble bills are most often counterfeited. A watermark in the form of the upper part of the monument to Yaroslav the Wise is located on the coupon field; next to it there is another filigree watermark indicating the denomination. It is distinguished by a combination of light areas with dark strokes, which create the effect of a three-dimensional image.

In the United States, the most common bill is the $100 bill. The banknotes in circulation are from 1996-2009. The front features Benjamin Franklin and the back features Independence Hall. To the right of the Treasury seal, on a white background, is a watermark repeating the portrait of the President.

Other security elements

Over the years, not only the abilities of counterfeiters have improved, but also new security features have been developed.

Microprinting. Represents images that are visible under multiple magnification. This can be a micropattern (geometric elements or a pattern of thin lines) and microtext. Microprinted banknotes are easy to distinguish if they are photocopied.
Security thread. At the initial stage of manufacturing the paper web, a strip of polymer material is introduced into the structure. A solid thread is visible under transmitted light. Recently, diving thread has become most widespread. Areas exposed to the surface of the paper may have luminescent or magnetic properties and contain some text.
Kipp effect (latent image). It is detected when viewed from a certain angle. The element is made only through intaglio printing.
OVI paint. Another innovative element that protects paper money (rubles). The images have a metallic sheen and change color when the lighting angle changes. OVI paint is produced by only one company from Switzerland using very expensive and complex technology, so it is almost impossible to fake these elements.
Microperforation. An image created using many through holes.

In addition, to protect banknotes they use:

foil stamping;
metallic paint;
shadow image;
luminescence;
hologram;
colorless embossing;
kinegram;
matching images.

“Plastic” money

Paper money is easy to tear, wrinkle or stain, so the state has to think about the timely withdrawal of old banknotes from circulation. Despite the addition of synthetic fibers, their wear resistance cannot be compared with samples made from polymer materials.

In addition to durability, polymer money has other advantages. For example, banknotes do not absorb moisture and dirt, and the production and processing process is significantly simplified.

To date, polymer banknotes are issued in nine countries (Vietnam, Australia, Canada, New Zealand, Romania, Brunei, Papua New Guinea, Maldives, Vanuatu) and circulate on a par with paper money of previous issues.

In some countries, only part of the banknotes are made from polymer materials (Israel, Dominican Republic, Singapore, Mexico, Bangladesh and others).

Hybrid banknotes

At first glance, the degree of protection for “plastic” banknotes is quite high, and only one company produces materials for them. However, in practice it turned out that there are no barriers for counterfeiters. After the introduction of new banknotes in Romania and Mexico, the number of high-quality counterfeits increased.

Another option is hybrid banknotes. Such banknotes are made on a paper basis with the addition of elements made of polymer materials. For example, a commemorative 100 ruble banknote issued in honor of the Olympic Games in Sochi is equipped with a polymer ribbon with a transparent insert on which snowflakes are visible.

Previously, any goods that had their own material value could act as money. Only with the development of society and market relations did the concept of barter (exchange) fade into the background. To find out who invented money, you need to look far into history.

Reasons for the appearance of the first money

Money in everyday life appeared as a result of barter, which was inconvenient to use. In fact, it is impossible to estimate the cost of production. Therefore, previously, in the absence of an objective measure of value, conflicts arose between people. Society needed a universal exchange instrument. In addition, barter relationships did not assume that both parties would be satisfied. The product offered for exchange could be uninteresting for one of the participants in market relations.

Money is a unique commodity that allows you to express the value of any exchanged product. They definitely have value as they are compact but can be split apart. Money is hard to come by. They don't lie underfoot. This is a long-term storage product, the equivalent of which will not change over time. The reason for the appearance of money can be called an agreement between people who realized that in the process of exchange they needed special intermediaries.

History and evolution

Historically, money appeared only after a problem with the exchange of goods was identified. Previously, in order to get what they wanted, people offered to exchange one thing for another. If a primitive man needed a tool, he had to find someone who had it and who would be able to make a counteroffer.

Since the life of the ancestors was difficult, and clothing, food, and household items were obtained through hard work, goods were rarely produced not for personal use, but for sale. Only after hunting and berry-picking faded into the background and people began raising livestock and growing crops did surplus produce appear. The tribes traded animal meat for grain. This is how barter was born.

The first money was not like the usual banknotes. The form of currency, depending on the region of use, was:

pebbles;
tea leaves;
tobacco;
salt;
cocoa beans;
shells;
ivory and wool.

History knows examples when it was possible to pay for goods with cattle or fish. “Fur” money was present in Siberia. In fact, one could pay with the skins of animals. It is interesting that this form of currency was used on the farm according to its intended purpose. In countries where deposits of silver and gold were found, these metals were used, acting as money. Thus, according to information about historical excavations in ancient Mesopotamia, that is, 3.5 thousand years BC, silver was one of the forms of currency.

It was only in the 18th and 19th centuries that people stopped mining gold to satisfy their trading needs. A different payment system has emerged. Governments of various countries began to issue paper money. Each banknote had its own denomination. Banks operated by issuing credit money. This is how money circulation was formed.

Now money is credited with 4 functions. They act as a measure of value, are a means of payment, are constantly in circulation and can be a means of accumulation.

Modern money has the form:

coins;
paper bills;
non-cash deposit;
electronic (digital);
virtual.

The emergence of a universal means of payment has had a positive impact on society. Digital money is gradually replacing paper bills and coins. They are endowed with a high degree of security. This provokes constant public demand for cards with a computer chip that store information about the account status of its owner. Unlike paper money, electronic money is much more difficult to steal. The most modern type of currency is virtual money. Unlike all the others, they are not provided with anything, and their number is limited by the code embedded in the algorithm. Moreover, anyone can produce them.

Digital and virtual money exchange expand the boundaries of the concept of money as a medium of exchange - it no longer has a material form, but real things can be purchased with it. Owners of electronic wallets (WebMoney, Yandex.Money, Oiwi), as well as those who know how to earn bitcoins using computer programs, can pay their bills and make purchases without leaving home. The electronic payment system is gaining new momentum.

The appearance of the first coins

Metal money in the form of coins was created in Lydia (Asia Minor) back in the 7th century BC. Previously, Lydian residents also used the opportunity to exchange until they appreciated the value of gold bullion. The trade involved pieces of metal of various sizes. They had to be constantly weighed. The creation of coinage eliminated these difficulties. In addition, the growth in the amount of money began to exceed gold reserves. We had to abandon the gold standard.

The Persian king Darius I launched the coin in the 6th century BC. It was distinguished by its high content of pure gold - 8.4 g. It was used not only in the territory of the kingdom, but also abroad. Taxes were paid in gold “gifts”. They participated in large trade operations.

The King of France, Charlemagne, tried to restore order to the treasury. He ordered the minting of coins with his appearance. People who refused to accept this form of payment could face corporal punishment or a fine.

The word “coin” (from the Latin “moneo” - “I advise”) appeared thanks to the temple of the goddess Juno-Coin on the territory of Ancient Rome, where metal money of a similar type began to be issued for the first time. Later, other states began to mint coins, wanting to create an individual image.

In 1944, the US dollar was recognized as the only currency that was backed by the value of gold. In the 1960-70s, metal money made from precious metals ceased to be issued. Only small coins remained in circulation, which had practically no value.

Who invented paper money

The story briefly describes that with the advent of paper money, which became widespread in Europe only in the 18th century, there were disagreements among scientists around the world. K. Marx, D. Ricardo and a number of other followers argued that only gold can be considered a full-fledged currency of account. At that time, paper money was only a substitute for precious metal. Scientists exclaimed that the abandonment of gold can be considered a temporary phenomenon.

The Chinese were the first to become interested in money made from paper. They took precious metal coins for storage. In some semblance of a bank, they were given a document that allowed them to pay for goods with other merchants. As a guarantee that the paper really has its value, a person could present a receipt. Such market relations began to exist back in the 600s AD.

At the state level, paper money began to be issued in China in the 10th century. The Song Dynasty introduced two banknote denominations: "1" and "100" jiaozi. Initially, banknotes were issued with a limited validity period and could only be used in a certain part of the state. With the advent of the Yuan Dynasty, territorial restrictions on the first printed paper bills were lifted. They were produced in 4 cities.

With the conquest of Chinese lands by the Mongols, society had to abandon the usual form of issuing money for 10 years. Then the process resumed. Paper money again became a means of payment. In the 14th century the value of such money changed characteristically. The government has lost control of the country's gold reserves.

Only in the 19th century did changes occur in China, and society returned to paper bills. The traveler Marco Polo, having visited this state, was simply amazed by the capabilities of the banknotes issued by the government. The sheets of paper themselves are worth nothing, but you can buy any wealth for them. Marco brought some paper money with him to Europe, but only to show as an example. On the European part of the continent they came into use much later.

In Russia, paper bills have been distributed among society since 1769. The global economy began to take advantage of such opportunities en masse by the end of the 19th century.

The final abolition of the smelting of gold dollar coins occurred in 1971. These changes overtook England, Germany and France a little earlier, immediately after the First World War. The need to switch to paper money was forced, but for many states such drastic changes were shocking. Although they seemed much easier to use, lighter, and also fully served as a measure of value.

With the pace of economic development, the need for money grew. Soon people appreciated all the advantages of paying with paper bills. Without a doubt, there were also shortcomings. Society knew that there was a certain risk and that at any time money of this form of issue could be devalued, while metal coins, regardless of the year of issue and the state that produced them, always retain their value.

The official exchange rate of foreign currency in relation to the national currency is set by the government or bank. But there is also a market value - the one for which money from different states is exchanged for each other in a free economy (on the stock exchange).

Now paper money allows you to purchase goods from any country. There is no need to wait for someone to agree to barter. The modern monetary system in the Russian Federation provides that the Central Bank of Russia is responsible for the issue or withdrawal of banknotes from circulation.

Origin of money in Rus'

The idea of issuing the first paper money in Rus' was proposed by Elizaveta Petrovna, who ruled the state for 20 years, from 1741 to 1761. The Empress tried to cope with the problem of a lack of funds in the treasury. A lot of time and resources were spent on making coins. There was a need to reduce costs.

Only Peter 3 was able to implement the project of transition to paper money, replacing Elizaveta Petrovna in office and signing the corresponding Decree. The document stated that banks in Moscow and St. Petersburg should issue paper money. They are required to replace the coins.

Catherine II, replacing her predecessors, made the first order. Banknotes of 100, 50 and 20 rubles were issued. The banknotes were of very poor quality, as there was a Russian-Turkish war. It was mentioned in history that even royal tablecloths were used to create banknotes. Nevertheless, the demand for such money was great, and therefore the bank soon created banknotes in denominations of “5” and “10” rubles.

In 1797 it turned out that too much money had been printed. There were approximately 18 billion paper rubles in circulation. Inflation has come to Russia. To save the monetary system, in 1843 it was decided to introduce credit money. True, this step of the empress did not save the situation. I had to give up some of the money. They were withdrawn from circulation.

Paper money in Rus' was protected from counterfeiting using a complex composition of paint that was applied to the banknote. Each banknote in the 18th and 19th centuries was decorated with a seal. In addition, to intimidate scammers, a warning about punishment was written. It took the authorities a lot of time to convince people to stop using metal coins and not switch to prehistoric natural exchange. Society was afraid of counterfeit bills.

With the outbreak of the First World War in 1914, the state's financial situation deteriorated sharply. Tsarist Russia incurred large expenses. Monetary losses led to the active printing of paper money again. This was followed by the arrival of inflation. Society began to understand that paper was worthless, but gold and silver would always remain valuable. People began to hide items made of precious metals. In 1915, the copper coin disappeared from use. Payment was again carried out in paper money.

In 1917, Kerenks appeared, which were of terrible quality, printed on thin paper, where there were no signs of authenticity. 20 and 40 rubles were perfectly counterfeited. They were the size of a newspaper sheet, but there was no state number or signatures on them. Thus, many fakes appeared. Compared to 1914, money output increased 84 times.

The employees who printed paper money were forced to work almost around the clock. There were no holidays or weekends for workers. People sabotaged, but this did not lead to the desired result, since the money was needed to replenish the state treasury. They opened a factory that was engaged in the procurement of raw materials for printed banknotes. The paper was formed from rags. To print in color, I had to purchase paint abroad. The payments were made from gold reserves.

In 1921, 5 and 10 thousand rubles were issued. There were already 188.5 billion rubles in circulation. There was a catastrophic shortage of small banknotes. Speculators could profit from this situation. They took money for the exchange. So, from a 100-ruble ticket, speculators made a profit of 10-15 rubles.

The lack of money led to the Russian government deciding to allow provincial cities to start issuing their own money. This is how “Siberians”, “Grubs” and other tokens of change appeared. Such money was printed in Khabarovsk, Kaluga, Baku, Yekaterinburg and other cities. Georgia did not miss the opportunity to join this project. This only led to a significant increase in prices and, as a result, to a decrease in purchasing power.

In 1922, “chervontsi” appeared. This special bill had nothing to do with the ruble. The Soviet authorities valued it at 10 gold rubles from a bygone era. Surprisingly, the “chervonets” had a positive impact on the people. Every day its exchange rate against the ruble grew.

In 1924, treasury notes appeared, banknotes for the entire USSR, issued in denominations of 1,3 and 5 rubles. They were backed by gold - 0.774234 grams. And in 1961, a monetary reform took place. 100 new rubles were equal to 1000 old rubles. Money was printed to replace the previous banknotes. In 1993-1994, after the collapse of the USSR, Russia issued its national currency, completely replacing the banknotes in circulation. in continuation of the topic - .

On January 9, 1769, Empress Catherine II issued a Manifesto on the founding of two assignat banks and the issuance of assignats. From this moment the history of paper money in Russia began. Today about the most unusual Russian banknotes.

The first Russian banknote

The first paper money in the Russian Empire were banknotes of 25, 50, 75 and 100 rubles, issued in 1769. They were printed on white paper with a watermark. Then it was the peak of technology, and today coins with a QR code are issued. The new Russian money was called banknotes and was printed in two banks established by Empress Catherine II in Moscow and St. Petersburg. The official goal of replacing copper money with paper money was the need to reduce the cost of issuing money, but in fact, in this way the wise empress raised funds to organize the Russian-Turkish war.

"Petenka"

The largest banknote of the Russian Empire is the 500 ruble banknote, issued from 1898 to 1912. The size of the bill is 27.5 cm by 12.6 cm. In 1910, one “petenka” was two annual salaries of the average Russian worker.

Kerenki

Banknotes that were issued by the Provisional Government in Russia in 1917, and from 1917 to 1919 by the State Bank of the RSFSR on the same cliches before the advent of Soviet banknotes, were called “Kerenki”, named after the last chairman of the Provisional Government A.F. Kerensky. As banknotes, they were valued very low, and the people gave preference to royal money or banknotes of the government, which at that time seized power in a particular territory. Small kerenoks (20 and 40 rubles) were supplied on large uncut sheets without perforation, and during the payment of salaries they were simply cut off from the sheet. A sheet of 50 kerenoks with a total denomination of 1000 rubles was popularly called a “piece”. They were printed in different colors, on inappropriate paper, and sometimes on the back of product and product labels.

Limard

One billion ruble banknote.

In the early 1920s, during a period of hyperinflation, the Transcaucasian Soviet Socialist Republic (which is the Azerbaijani, Armenian and Georgian SSR) issued a banknote with a face value of 1 billion rubles (colloquially - limard, lemonard). On the front side of the bill the denomination was depicted in numbers and in words and contained warning inscriptions, and on the reverse side the artists depicted a female worker, the coat of arms of the ZSFSR and floral ornaments.

Paper chervonets

The largest bill in terms of purchasing power after 1917 was the 25 Soviet chervonets bill. It was backed by 193.56 grams of pure gold. It is worth noting that simultaneously with the paper chervonets issued in the fall of 1922, the Soviets began issuing gold chervonets in the form of 900-carat coins. In size, the Soviet chervonets fully corresponded to the pre-revolutionary 10 rubles.

"Bread" money

In 1921, during the rampant hyperinflation of Soviet rubles and famine, the Kyiv Natural Union issued settlement checks worth 1 pood of bread. Natural checks were issued in denominations of 1, 2, 5, 10, 20 natural rubles or poods. It was reported that “the smallest denomination of the Union’s natural coin is equal to 1 natural kopek, which is 1/100 of a pood of rye flour, 10 natural kopecks are 1 share, and 100 natural kopecks are 1 natural ruble (pound of rye flour)”

"Wine" money

Wine money of Yakutia.

After the October Revolution, the role of money in Yakutia was played by wine labels, which were issued by the future People's Commissar of Finance of the republic, Alexei Semyonov. “Wine” money became known thanks to the essay “On a Unit” by Maxim Gorky. He wrote: “Of all the paper money that was put into circulation in the boundless space of the Union of Soviets, the most original money was issued by Alexey: he took multi-colored labels for bottles of wine, wrote in his own hand on “Madera” - 1 rub., on “Cahors” - 3 rubles, “Port wine” - 10 rubles, “Sherry” - 25 rubles, attached the seal of the Narkomfin, and the Yakuts and Tungus accepted this money very well, as wages and as the price of products. When the Soviet government canceled these peculiar receipts, Semenov sent me samples of them.”

Coupons

In the early 1990s, the Soviet Union was hit by massive shortages, and money alone was no longer enough to purchase goods. The Soviet bureaucracy remembered the proven method of distributing scarce products using cards, but at the same time used the delicate word “coupons”.

Vneshtorgbank checks

In the USSR there was a chain of stores “Beryozka”, where they accepted checks of the “D” series. Such checks represented a monetary obligation of the State Bank (Vneshtorgbank) of the USSR to pay the amount specified in the check and were intended for payments to certain categories of citizens for goods and services. All checks were printed at GOZNAK.

Vertical banknote

For the 2014 Olympics, the Bank of Russia issued a commemorative banknote with a face value of 100 rubles. The total circulation of the banknote is 20 million copies. This is the first Russian vertically oriented banknote.