250 rublei 1919

Common. Market data from realbanknotes.com shows consistent sales at modest prices across all condition grades, with specimens in lower grades (F-VF) selling for $10-35 and higher grades (PMG 64-66) commanding $50-180. The steady supply of examples across multiple decades of auction history, combined with the absence of any indication of a particularly low print run from a short-lived issuer, categorizes this as a common date and denomination within Armenian 1919 currency. While historically significant, it presents no rarity premium.

This note was issued during a pivotal moment in Armenian history when the newly independent First Republic of Armenia (1918-1920) sought to establish its monetary sovereignty following the collapse of the Russian Empire. The imagery—particularly the allegorical female figure engaged in textile work on the reverse—reflects Armenian cultural values and the nation's economic aspirations during this brief independent period. The bilingual French and Armenian inscriptions underscore the international recognition and Western diplomatic engagement that characterized Armenia's short-lived independence before Soviet annexation in 1920.

The obverse features a formal, symmetrical design dominated by ornate floral and scrollwork border work typical of Waterlow & Sons' security printing. Large circular medallions containing '250' appear in the upper left and right corners, serving both decorative and security functions. The center displays bilingual text establishing the issuing authority. Two handwritten signatures in the lower center area authorize the note, a characteristic feature of early 20th-century banknotes. The reverse displays an allegorical figure representing Labor or Industry—a classical draped female figure seated at a loom or textile apparatus, with a radiating sunburst or halo effect behind her upper body. This imagery symbolizes Armenian economic productivity and industrial capacity. A circular emblem in the upper right incorporates the Armenian coat of arms (heraldic lion) and the denomination. The entire design employs fine guilloche patterns and intricate line work throughout, with cream and brown tones creating subtle visual depth.

Front side: 'ՀԱՅԱՍՏԱՆԻ ՀԱՆՐԱՊԵՏՈՒԹՅՈՒՆ' (Republic of Armenia in Armenian); 'REPUBLIQUE ARMENIENNE' (Armenian Republic in French); '250 ROUBLES 250' (denomination); Serial number 'Б4184476' (Cyrillic); 'ПЕЧАТЬ РЕСПУБЛИКИ АРМЕНИИ' (Seal of the Armenian Republic). Back side: '250 ROUBLES 250' (denomination); 'ԲԱՆԿ ՀԱՅԱՍՏԱՆԻ' (Bank of Armenia in Armenian); 'WATERLOW & SONS LIMITED LONDON ARMENTIÈRES' (printer attribution).

Intaglio (copperplate) engraving, as evidenced by the crisp line work, detailed guilloche patterns, fine background ornamentation, and sharp impression of all design elements. Printed by Waterlow & Sons Limited, the London-based security printer renowned for high-security banknote production. The printer's attribution appears on the reverse, confirming this as an official production of this prestigious firm.

This note is Pick-32 (250 Rubles), part of the 1919 Armenian Republic issue. The PMG population report identifies two variants under this base Pick number: P-32 (250 Rubles) and P-32A (500 Rubles). The observed serial number Б4184476 and the handwritten signatures visible on this example are consistent with the standard issue, though individual signature varieties may exist across the print run. No specific overprints, date variations, or major sub-varieties have been noted for this denomination from the 1919 issue.