1 rubel 1923

Common. The 1923 1 Ruble note (Pick P-156) had a substantial print run as a standard denomination in Soviet currency circulation during the stabilization period following the civil war. While notes in uncirculated condition command modest premiums over circulated examples, this denomination and issue year remain widely available in the collector market. The blue overprint variant appears to be a standard feature rather than a scarce variety, as it was applied systematically to enforce compliance with the October 1923 decree.

Issued during the early Soviet period by the State Bank of the R.S.F.S.R., this 1 Ruble note reflects the transitional monetary reforms of 1923, when the Soviet government was stabilizing its currency following the hyperinflation of the civil war years. The inscriptions emphasize that the note is 'secured by all the property of the Republic' and reference the October 1, 1923 decree, indicating this was part of a currency reform establishing official exchange rates. The Soviet state emblem and references to the 'People's Commissar of Finance' underscore the authority of the Bolshevik state apparatus in guaranteeing the currency's value.

The note features a symmetrical design with an elaborate decorative border of baroque-style flourishes framing all edges. The front displays the Soviet state emblem—a hammer and sickle enclosed within a laurel wreath—as the central symbol of state authority. The denomination 'ОДИН РУБЛЬ' (One Ruble) is prominently featured, with the year 1923 appearing in multiple locations. The back contains legal text regarding the mandatory acceptance of the note and its exchange rate decree. A prominent blue diagonal overprint crosses the reverse, serving as an official stamp or validation mark certifying the note's compliance with the October 1, 1923 currency reform decree. The color scheme of brown and tan on a light beige background was typical of Russian banknotes of this period.

FRONT: '1923' (year); 'ГОСУДАРСТВЕННЫЙ ДЕНЕЖНЫЙ ЗНАК' (State Monetary Sign); 'ОДИН РУБЛЬ' (One Ruble); 'ОБЕСПЕЧИВАЕТСЯ ВСЕМ ДОСТОЯНИЕМ РЕСПУБЛИКИ' (Is secured by all the property of the Republic); 'Народный Комиссар Финансов' (People's Commissar of Finance); Serial number 'АА-028'; BACK: 'Денежные знаки 1923 года' (Monetary signs of 1923); 'обязательны в приеме для всех согласно расчету установленному в отношении между знаков прежних образцов декретом от 1 октября 1923 года' (Are mandatory for acceptance by all according to the calculation established in relation to previous denominations by decree of October 1, 1923).

This note was produced using intaglio (engraved) printing, the standard security printing method for Soviet currency of this era. The fine detail in the decorative borders, the crisp line work visible in the inscriptions, and the precise registration of the design elements are characteristic of high-quality intaglio production. The blue diagonal overprint on the reverse was applied as a separate operation, likely using offset lithography or a stamp process to ensure authenticity and compliance with the 1923 currency reform.

This note exhibits the blue diagonal overprint/stamp on the reverse, which appears to be a standard feature of the 1923 issue rather than a rare variety. The serial number prefix 'АА' with the number '028' is consistent with notes from the initial print runs. The presence and placement of the blue overprint may indicate different printing batches or validation periods, but without comprehensive catalog documentation of specific overprint varieties for Pick P-156, this is cataloged as the standard P-156(1) variety. Collectors should note that the condition grade (UNC) and the clear visibility of all design elements and inscriptions make this an excellent example of the type.