From the history of Armenian coins. 1st ever paper money circulated in Armenia in 19th century

From the history of Armenian coins. 1st ever paper money circulated in Armenia in 19th century

Along with paper money, gold, silver and copper coins were also circulated, with billon (low-grade silver) coins entering circulation later.

In early 19th century, Eastern part of Armenia was annexed to the Russian Empire with the latter’s paper currency entering into circulation. This was the first time ever paper currency was circulated in Armenia to last for 100 years till 1917: among banknotes circulated were those of Russian emperors Alexander I, Nicholas I, Alexander II, Alexander III and Nicholas II.

PanARMENIAN.Net - Description of paper currency

Russian emperors' paper money was very diverse, ranging from state bank notes, state credit bills, State Treasury bills, Treasury banknotes, short-term liabilities of State Treasury.

1910 banknote of 100 rubles

Description of coins

Along with paper money, gold, silver and copper coins were also circulated, with billon (low-grade silver) coins entering circulation later.

In 1828 through 1845, for the first time ever, 3, 6 and 12-rouble platinum coins were minted. As a result of reforms, gold monometallism-based paper money and coin systems were optimized to become one of the most advanced ones in the world. Among the most interesting ones are 1 and 1,5-rouble commemorative silver coins, timed to most important events in the Russian Empire.

Copper coins had face values of 1/4, 1/2, 1, 2, 3 and 5 copecks; billon coins - 5, 10, 15 and 20 copecks; silver coins - 25, 50 copecks and 1, 1,5 rubles; gold ones – with a face value of 3, 5 rubles, 7 rubles 50 copecks, 10 and 15 rubles.

Reverses of Russian Empire copper coins

Reverses of Russian Empire billon coins

Obverse of Nicholas II silver coin

Unusual gift coins – gold coins with a face value of 25 rubles, 37 rubles 50 copecks are of special interest.

After the February Revolution of 1917, the currency of Russia's provisional government entered into circulation. Only paper currency was used at the time, with no coins minted.

Russian Provisional Government’s Kerensky coins

The material was prepared in cooperation with Gevorg Mughalyan, the numismatist of the Central Bank of Armenia.

Viktoria Araratyan / PanARMENIAN.Net, Varo Rafayelyan / PanARMENIAN Photo
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