

“Sig.Shagin”
This is a Russian Empire 3 Ruble State Credit Note from 1905, graded VF, representing the classical period of Imperial Russian currency under the gold standard. The note displays the characteristic ornate design of early 20th-century Russian banknotes with pink/rose and green tones, featuring the imperial double-headed eagle prominently on both sides. The paper exhibits the cream/beige patina typical of notes over a century old, with no major tears or stains visible, making it an attractive example for collectors of Imperial Russian currency.
Common. The 3 Ruble note from 1905 was issued in substantial quantities by the Russian State Bank during the stable period of the gold standard monetary system (before the monetary disruptions of World War I). No evidence suggests a limited print run, early recall, or exceptional scarcity for this denomination and year. Numerous examples survive in collections, and VF-graded specimens appear regularly in the market. The 1905 issue date places it in the latter portion of the Imperial series, with established collecting interest but without the rarity premium of earlier or emergency issues.
This 3 Ruble note was issued during the Russian Empire's period under the gold standard monetary system, as explicitly stated in the inscriptions referencing the gold redemption clause (1 ruble = 1/15 imperial, containing 17.424 parts pure gold). The dual-eagle imperial coat of arms and formal 'State Credit Note' designation reflect the authority of the Russian State Bank during the reign of Nicholas II. The elaborate baroque design and security features represent the height of Imperial Russian currency artistry before the upheaval of the 1917 Revolution.
The obverse features a formal State Credit Note layout with the Imperial Russian double-headed eagle with crown positioned at top center, flanked by smaller crowned eagle emblems in the lower corners. The denomination 'ТРИ РУБЛЯ' is prominently displayed in large Cyrillic text within an ornate cartouche. The entire note is framed by elaborate baroque-style decorative borders with intricate floral and scrollwork patterns in pink/rose and green tones. Signature lines for the Managing Director (Управляющий) and Cashier (Кассир) appear at the bottom, with serial numbers visible at both top and bottom margins. The reverse continues the ornate design theme with large decorative numeral '3' elements positioned on the left and right sides in guilloche style, a central oval cartouche containing redeemability text, and the imperial coat of arms (double-headed eagle with shield) at the top center. The entire composition demonstrates the classical security printing aesthetic of Imperial Russian currency.
FRONT SIDE: 'Государственный кредитный билет' (State Credit Note) / 'ТРИ РУБЛЯ' (Three Rubles) / 'государственный банк разменивается кредитные билеты на золото монету всех отграничений самаго (1 рубль - 1/15 империала, содержит 17,424 долей чистаго золота)' (The State Bank exchanges credit notes for gold coins of all designations; 1 ruble = 1/15 imperial, containing 17.424 parts of pure gold) / 'Управляющий' (Managing Director) / 'Кассир' (Cashier) / Serial number: БГ106971. BACK SIDE: 'ГОСУДАРСТВЕННЫЙ кредитный билет на золотую монету российской империи (1 рубль = 1/15 империала, содержит 17.424 доли чистаго золота) российский кредитный билет имеют хождение по всей империи наравне с золотом монетом' (State credit note for gold coins of the Russian Empire [specifications as above]. Russian credit notes circulate throughout the empire on equal terms with gold coins) / Large denomination numeral '3'
Engraved intaglio (steel plate engraving), the dominant security printing method for high-value Imperial Russian banknotes of this period. The visual analysis confirms the complex engraved patterns, guilloche work in the numerals, and the intricate multiple-layer fine line engraving visible throughout. This Pick 9c(11) note was produced by the Russian State Bank's printing operations, utilizing state-of-the-art security engraving techniques typical of the Imperial period.
Pick catalog number P-9c(11) indicates this is variety 11 of the 3 Ruble 1905 issue, likely differentiated by signature variety (the catalog notes 'Sig. Shagin,' referring to one of the authorized signatories on the note). The serial number prefix 'БГ' may indicate a specific printing batch. The variety designation in Pick reflects the multiple signature combinations authorized during the 1905 issue period. Without additional documentation, the specific signature combination and serial number range confirm this as a cataloged variety within the established 1905 3 Ruble series.