From the history of Armenian coins: No coins minted in Armenia in 1918-1924

From the history of Armenian coins: No coins minted in Armenia in 1918-1924

In 1924, the USSR government ruled to replace all bank notes circulated in Transcaucasia with the USSR currency of single design.

In 1922, the Federation of Socialist Soviet Republics of Transcaucasia (FSSRT) was formed to include Soviet Socialist Republics of Armenia, Georgia and Azerbaijan, with a relevant treaty signed March 12, 1922 in Tiflis (Tbilisi).

PanARMENIAN.Net - Description of FSSRT currency

FSSRT issued paper currency dated 1923, with a face value of 1 thous., 5 thous., 10 thous., 25 thous., 50 thous., 100 thous., 250 thous., 500 thous., 1 million, 5 million and 10 million rubles. The banknotes carried inscriptions in Russian, Armenian, Georgian and Azerbaijani languages. The 1923 issue banknotes were one-type, in varying colors, with the reverse featuring the Tiflis-located Federation building and the obverse carrying the Federation coat of arms.

1000 ruble 1923 FSSRT banknote

The obverse of the banknotes featured signatures of the heads of the 3 republics – A. Myasnikyan, B. Mdivani and N. Narimanov.

Soon, FSSRT was renamed into the Transcaucasian Socialist Federative Soviet Republic (TSFSR,) which was a constituent republic of the Soviet Union. TSFSR issued new banknotes dated 1924.

Description of TSFSR currency

The TSFSR paper currency came in two types. First type included banknotes with a face value of 25 million, 50 million and 100 million rubles, fully repeating the 1923 issues except in coloring. The second type featured banknotes with a face value of 50 million, 75 million, 250 million, as well as 1 and 10 billion rubles. A 10 billion ruble banknote, though issued, never entered into circulation. The currency carried inscriptions in Russian, Armenian, Georgian and Azerbaijani languages. The multi-color banknotes featured the TSFSR coat of arms and other images.

The obverse of the bank notes featured signature of the Chairman of the Council of People's Commissars M. Orakhelashvili and Acting People’s Commissar of Finance D. Huseynov.

100 million and 1 billion ruble 1924 TSFSR banknotes

Nominal value of the currency testified to the extent of the ruble's inflation, which not only Armenia and Transcaucasia, but also Russia faced at the time.

No coins were minted or circulated in Armenia in 1918 through 1924.

Upon formation of the Union of Soviet Socialist Republics in 1922, and in accordance with the currency reform in 1924, the USSR government ruled to replace all bank notes circulated in Transcaucasia with the USSR currency of single design.

Description of USSR rubles

The single design USSR currency features the inscription of the Union of Soviet Socialist Republics as well as the USSR emblem, and images of workpeople and peasants.

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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