Watch List notes:

RUSSIA--PROVISIONAL GOVERNMENT. Government Credit Note. 50 Rubles, 1919. P-39Ba. PMG Very Fine 25 EPQ.
1919 was a turbulent and trying year for the newly formed Russian Soviet Republic: the White Army was still engaged in a bitter war of attrition with the Reds in the South of Russia, the British and American Expeditionary Forces were fighting alongside the Whites against the Bolsheviks in the North of Russia, and the Red Army steamrolled the White Army in Siberia. During the Russian Civil War, many regions and Provisional Governments issued currency before the State Bank of the R.S.F.S.R. (later the State Bank of the U.S.S.R.) began issuing currency in 1921, which was implemented by Vladimir Lenins' New Economic Policy. Lenin himself would describe the State Bank as a "bureaucratic paper game," and nothing more than a "Potemkin Village," which Lenin meant was to make people believe the newly formed R.S.F.S.R. was fairing quite well, when in reality it was not.

This note is an anomaly of survival. Usually, just specimens of this type are typically encountered, which in themselves are rarely encountered, with PMG reporting grading just 7 specimens. This note is fully issued, with serial numbers and block numbers. At the time of cataloging, PMG reports a scant two issued notes graded by their service, both in the same VF 25 grades, however this one gained PMG's coveted EPQ designation. The Provisional Government seal is seen on the reverse of the note, which had only existed for around 7 months: from the time of Tsar Nicholas II abdication of the throne on March 15, 1917 until the October Revolution of 1917, when the Bolsheviks gained full power and established a new government.

This note is found with PMG's EPQ designation, retaining fully original paper from 100 years ago. Two allegorical women are seen on the face of the note, one seated on square containing the denomination, with the other standing and holding an object. The number "50" can be counted an astounding 94 times on the face of the note, making up the border design and seen in each corner. A multicolored design is seen surrounding the "50" obligation at center, with detailed lathe work around it.

It is a miracle this note was spared destruction during the revolution and later purges of material. This note will surely be the centerpiece of any collection of Russian paper money it enters, and its historical importance is second to none. If this note could talk, we can only imagine the stories it could tell and the history it has witnessed.

Estimate: $5000.00- $10000.00