10 karbovantsev 1942

Common. Despite its historical significance and occupation-period origin, this denomination is encountered regularly on the secondary market. The eBay price tracking data shows consistent sales across multiple condition grades, with UNC examples averaging $32-66 over the past 15 years (with recent sales at $57 in 2023), and lower grades regularly selling for $5-15. The 2016 catalogue valuation of $80 for UNC reflects moderate collector interest but not scarcity. Print runs for this series were substantial, and sufficient quantities survive to make individual notes accessible to collectors without significant premium pricing.

This note was issued during the Nazi occupation of Ukraine under the Reichskommissariat Ukraine administration, as evidenced by the German inscriptions and the reference to 'Reichskommissariat' on the reverse. The use of both German and Ukrainian Cyrillic text on the banknote represents the hybrid administrative structure of the occupation, with the Zentralnotenbank Ukraine serving as the central banking authority under German oversight. The March 5, 1942 ordinance date and Rivne (Rowno) location indicate this was part of the coordinated currency regime established in occupied Ukrainian territories.

The note employs a monochromatic design in brown and maroon tones with bilingual German-Ukrainian presentation. The front features a formal portrait of a person shown in profile facing left, wearing formal attire with what appears to be a laurel wreath or decorative element near the shoulder—likely representing a symbolic figure of Ukrainian heritage or authority under the occupation regime. The design is framed by ornate decorative borders and complex geometric fill patterns that serve both aesthetic and security purposes. The reverse side emphasizes the institutional and legal framework of the issue, with the large central denomination '10' surrounded by ornamental frames and the complete bilingual text of the issuing authority and regulatory ordinance. The overall design reflects the formal, classical approach typical of Central European banking institutions of the 1940s.

FRONT: '10' / 'ZEHN KARBOWANEZ' (Ten Karbovantsev) / 'Ausgegebenauff Grundder Verordnung vom 5. März 1942' (Issued pursuant to the Ordinance of March 5, 1942) / 'ROWNO' (Rivne) / 'den 10. März 1942' (March 10, 1942) / 'ZENTRALNOTENBANK UKRAINE' (Central Bank of Ukraine) / Serial number: 5110208547. BACK: '10' / 'ZENTRALNOTENBANK UKRAINE' (Central Bank of Ukraine) / 'ZEHN KARBOWANEZ' (Ten Karbovantsev) / 'GELDBARSCHUNG DES REICHSKOMMISARIAT BESTRATT' (Currency issue of the Reich Commissariat) / 'ДЕСЯТЬ КАРБОВАНЦІВ' (Ten Karbovantsev in Ukrainian) / 'ЦЕНТРАЛЬНИЙ ЕМІСІЙНИЙ БАНК УКРАЇНA' (Central Emission Bank of Ukraine in Ukrainian) / '10'

This note was produced using intaglio (engraved) printing, evidenced by the sharp, crisp detail of the portraits, the fine-line geometric patterns providing the background security design, and the precise impression of all textual elements observed in the uncirculated example. The intricate ornamental borders and complex geometric fill patterns are characteristic of security intaglio printing employed by established security printers of the period. The Zentralnotenbank Ukraine notes of this series are known to have been produced by German security printers under occupation administration.

The observed serial number 5110208547 indicates this is from the standard circulation issue of March 10, 1942. No overprints, signature variations, or other distinguishing varieties are apparent in this example. The note follows the standard design and printing specifications for Pick P-52, with bilingual German-Ukrainian text and the Zentralnotenbank Ukraine imprint as issued. No scarce varieties or emergency issues are indicated by the visual characteristics or serial numbering observed.