500 griven 1918

Common. While the Ukrainian People's Republic was short-lived (1917-1920), the 500 Hryven denomination was part of a regular issue with substantial print runs. eBay market data shows consistent sales activity across multiple grades from 2010-2026, with AU/UNC examples selling in the $30-$156 range, indicating steady collector demand but no scarcity premium. PMG population data shows this note has been professionally graded, further confirming its accessibility to collectors. The 2016 catalog value of $60 for UNC examples and the prevalence of sales at reasonable prices confirm this is a collectible but common note.

This banknote was issued by the Ukrainian People's Republic (Українська Народна Республіка) during 1918, a period of Ukrainian national independence following the Russian Revolution and the collapse of Tsarist authority. The prominent trident emblems—the official state heraldry of Ukraine—and the trilingual inscriptions reflect the nationalist aspirations of the short-lived republic. The note's declaration that it is 'secured by all state property of the Republic' and circulates 'at par with gold coin' represents the new government's attempt to establish monetary credibility during a period of significant political and economic upheaval.

The front of this note prominently features a classical-style profile portrait facing right within an octagonal black-bordered frame, positioned in the upper center of the composition. This portrait, rendered in peach and tan tones, represents 'Young Ukraine' (as referenced in catalog sources) and symbolizes the nation's aspirations. Flanking this central portrait on either side are two identical Ukrainian tridents—the three-pronged national emblem of Ukraine—each enclosed within elaborate circular wreaths featuring coral/salmon colored floral motifs. The entire note is framed by an ornate coral/salmon colored floral border pattern. The background employs fine-line geometric engraving in green tones, creating a sophisticated artistic foundation. Large denomination numerals '500' appear in the bottom corners. The reverse features a decorative teal/blue-green cartouche with ornamental crown-like details at its center, containing the legal text regarding gold backing and counterfeiting penalties. Large ornate denomination numerals appear in all four corners of the reverse, with a red serial number visible in the top corners.

FRONT SIDE: 'Українська народня республіка' (Ukrainian People's Republic) / 'Державний кредитовий білет' (State Credit Note) / 'П'ятисот гривене' (Five Hundred Hryvnia) / 'Директор державного Банку' (Director of State Bank) / 'Скарбник Міністр' (Treasurer Minister) / '1 гривеня містить 8,712 долі широго золота' (One hryvnia contains 8.712 shares of pure gold) / Large denomination numerals '500' in bottom corners. BACK SIDE: 'Гривень' (Hryvnia) / Serial number 'А·3361912' / '500' denomination in all four corners / '1918' (year of issue) / Full legal text: 'Державні кредитові білети Української Народної Республіки забезпечуються всім державним майном Республіки. Державні кредитові білети Української Народної Республіки ходять нарівні з золотою монетою. За фальшуванням державних кредитових білетів виновних карається позбавленням прав і тюрмою.' (State credit notes of the Ukrainian People's Republic are secured by all state property of the Republic. State credit notes of the Ukrainian People's Republic circulate at par with gold coin. Forgers of state credit notes are subject to deprivation of rights and imprisonment.)

This banknote was produced using the intaglio printing method (engraving), evidenced by the fine-line geometric patterns, detailed portrait engraving, and the crisp, tactile quality of the design elements. The precise registration of multiple color layers (coral/salmon, green, teal, red, and black) and the high-quality execution of decorative elements suggest professional security printing by an established central bank printer. The technical sophistication and quality control evident in the visual analysis indicate this was produced by skilled engravers and printers, likely from Austria-Hungary's established printing facilities or under supervision of their trained personnel, as was common for newly independent Eastern European states in 1918.

This specific example displays serial number A·3361912, consistent with the standard 1918 issue. The visual analysis shows the standard design with no overprints, surcharges, or design variations noted. The 'A' prefix on the serial number is typical of the regular issue series. No signature variants or alternative designs have been documented for Pick catalog number P-23, indicating this represents the sole variety of this denomination and issuer combination.