Author Topic: Russia and CIS - Currency Chronology Chart  (Read 2909 times)

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Offline kumarrahul

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Russia and CIS - Currency Chronology Chart
« on: August 31, 2011, 02:03:33 PM »
Dear Forum members,

I have prepared a currency chronology chart for Russia and CIS countries as a personal reference guide (attached)... to aid in collecting and identifying gaps..  I have collected information from wherever available.. primarily wikipedia :-)..

I have not found any convincing information of what currency was used between 1917 - 1924 in the territories which are the current countries of Belarus, Turkmenistan, Uzbekistan, Tajikistan, Kazakhstan, Kyrgyzstan, Ukraine and current unrecognized territories of Chechenya, Abkhazia, Nagorna-Karabakh and South Ossetia..

I have tentatively marked as Russian Rouble as they were all part of the erstwhile Russian Empire.. but not really certain.. It could also be that no currency whatsoever circulated in these areas during 1917 - 1924 period.

Hoping to glean this information from the experts on this forum.

Thanks

Offline kumarrahul

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Re: Russia and CIS - Currency Chronology Chart
« Reply #1 on: September 02, 2011, 05:46:53 AM »
Hi.. I'm surprised that there is no response on this thread as yet.. is the information requested really obscure?

I would also like to get some feedback on the chart that I have prepared... planning to make it for other continents as well.. any suggestions?

Rahul

Offline Coinsforever

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Re: Russia and CIS - Currency Chronology Chart
« Reply #2 on: September 02, 2011, 06:55:48 AM »
At the outset nice attempt !

You can refer this site which is dedicated to cis countries.

Cheers ;D
Every experience, good or bad, is a priceless collector's item.



http://knowledge-numismatics.blogspot.in/

Offline kumarrahul

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Re: Russia and CIS - Currency Chronology Chart
« Reply #3 on: September 03, 2011, 02:44:38 PM »
Thanks for the appreciation Ajay, I looked up the ciscoins website.. quite impressive with a lot of detail.. however, my understanding is that catalogs the coins from 1991 onwards with the breakup of USSR.. I was still unable to get the information I am looking for.. Thanks for your response anyways :-)

Offline Figleaf

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Re: Russia and CIS - Currency Chronology Chart
« Reply #4 on: September 03, 2011, 05:07:57 PM »
For a simple listing of coins issued, you can always refer to numismaster. See this thread for more details.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline kumarrahul

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Re: Russia and CIS - Currency Chronology Chart
« Reply #5 on: September 03, 2011, 05:17:53 PM »
Thanks Peter.. actually, I do not think there are any coins specifically issued by these countries during 1917 - 1924 period.. What I am asking is possibly a pure historical question.. i.e. what currency was used (if any), in these territories during this period.. and if there is any documentation around this.. This is purely to complete the currency picture in these regions.

Offline Figleaf

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Re: Russia and CIS - Currency Chronology Chart
« Reply #6 on: September 04, 2011, 01:33:08 AM »
OK. I misunderstood. Sorry.

The expense of the first world war and economic mismanagement led to high inflation as of 1916. This was one of the causes of the October revolution. The revolution and civil war following turned high inflation into hyperinflation. Coins disappeared from circulation and banknotes with higher and higher values were issued. The response of the Bolsheviki was "war communism", mass nationalisation, fixed prices and terror. This made the problem worse. By the end of 1920, all paper money was worthless.

From 1921, the Bolsheviki changed course with the New Economic Policy. By re-instating some private enterprise, production grew rapidly. In 1922, a new ruble of 10 000 old rubles was introduced. The following year, an even newer ruble, worth 100 of the 1922 rubles was created. In 1924, this newer ruble was replaced by a "gold ruble" of 50 000 of the 1923 rubles. For the first time since the October revolution, coins were issued. By 1925, the economy had stabilised. The New Economic Policy made place for Stalinist terrorism from 1928.

So, no coins between 1917 and 1924, due to hyperinflation. The money used was paper only.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline kumarrahul

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Re: Russia and CIS - Currency Chronology Chart
« Reply #7 on: September 04, 2011, 07:10:23 AM »
Thanks Peter.. and pls do not apologize.. we are just discussing some aspects here for mutual knowledge.

I am not certain if you've seen the currency chronology chart that I had attached in the first post on this thread that I had prepared based on my research... I have incorporated the 'hyperinflation' scenario prevalent in Russia post the October revolution, i.e. multiple redenominations of 1:10,000 (1922), 1:100 (1923) and 1:50,000 (1924).

If you see the chart.. my issue is with the countries/territories marked as Russian Rouble?  These territories, viz. Belarus, Turkmenistan etc.. were not a part of the Soviet Union (i.e. they were still not recongized as SSRs or ASSRs.. this happened only after 1924).  In such a political scenario, did these nations use Russian (Imperial) currency, the new Russian/USSR roubles or nothing at all?


So, no coins between 1917 and 1924, due to hyperinflation. The money used was paper only.

Peter

I beg to differ.. coins were definitely issued for RSFSR and USSR between 1922 and 1925.. I have an RSFSR 50 Kopecks 1922 and the CCCP 50 kopecks 1924.  However, currencies such as Transcaucasian Ruble, Armenian Ruble, Ukrainian Karbovants, Georgian Maneti, and Latvian Rublis were all in banknote form.

Thanks for your time and patience.

Rahul

Offline ciscoins

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Re: Russia and CIS - Currency Chronology Chart
« Reply #8 on: September 11, 2011, 12:28:43 AM »
I have not found any convincing information of what currency was used between 1917 - 1924 in the territories which are the current countries of Belarus, Turkmenistan, Uzbekistan, Tajikistan, Kazakhstan, Kyrgyzstan, Ukraine and current unrecognized territories of Chechenya, Abkhazia, Nagorna-Karabakh and South Ossetia..

The current Ukraine consists of former territories of Ukrainian Soviet Socialist Republic, Austria-Hungary, Czechoslovakia and Poland. UkrSSR didn't issue any coins, but the other three countries did.

Turkmenistan, Uzbekistan, Tajikistan, Kazakhstan and Kyrgyzstan were parts of Russian Federation (RSFSR) until 1936; so they used the same currency as RSFSR and USSR.
Ivan
Moscow, Russia

Offline ciscoins

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Re: Russia and CIS - Currency Chronology Chart
« Reply #9 on: September 11, 2011, 12:36:47 AM »
coins were definitely issued for RSFSR and USSR between 1922 and 1925.. I have an RSFSR 50 Kopecks 1922 and the CCCP 50 kopecks 1924.

RSFSR coins of 1921-23 were put into circulation only in 1924, after the final currency reform.
Ivan
Moscow, Russia

Offline Harald

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Re: Russia and CIS - Currency Chronology Chart
« Reply #10 on: September 11, 2011, 09:20:42 PM »
I have not found any convincing information of what currency was used between 1917 - 1924 in the territories which are the current countries of Belarus, Turkmenistan, Uzbekistan, Tajikistan, Kazakhstan, Kyrgyzstan, Ukraine and current unrecognized territories of Chechenya, Abkhazia, Nagorna-Karabakh and South Ossetia..

I have tentatively marked as Russian Rouble as they were all part of the erstwhile Russian Empire.. but not really certain.. It could also be that no currency whatsoever circulated in these areas during 1917 - 1924 period.

The "official" currency unit in all these area was still the gold rouble of 1897. But due to the economic collapse in First World War the currency became paper only. Parts of Western Russia got occupied until the October Revolution and annexed after the treaty of Brest. October Revolution and civil war destroyed the currency completely. Lots of regional paper money was issued by all kinds of authorities, which of course resulted in a hyper-inflation. Only in the 1924 the Soviet government stabilised the currency and based it on gold again (a process which eliminated 14 zeroes).

I have tried to collect currency informations on a country basis (http://www.liganda.ch), which is not easy in the USSR also due to the fact that borders got reshuffled more than once. Contact me if you don't get along with the German (or the information being a little too condensed  ;D).

Some of the territories you are looking for indeed had their own currencies, like Ukraine (several parallel currencies), Armenia, Azerbaidjan & Georgia (which were also part-time united into Transcaucasia), Siberia (called Far Eastern Republic), several places in the Northern Caucasus and in Central Asia (like Bukhara & Khiva, or Tuva). For other parts there are no sources that indicate a separate monetary history, like Belarus (which was "independent" only for a few months end 1919), Kazakhstan and Turkestan (later split up into 5 republics).

The SCWPM, part I, gives you some insight already. In addition, there are specialised catalogues on the paper money history of early USSR, and more being published since, apparently, there is still research being done.

Hope this helps. Cheers
--
Harald
http://www.liganda.ch (monetary history & numismatic linguistics)

Offline kumarrahul

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Re: Russia and CIS - Currency Chronology Chart
« Reply #11 on: September 16, 2011, 11:50:20 AM »
I have tried to collect currency informations on a country basis (http://www.liganda.ch), which is not easy in the USSR --
Harald
Thanks for sharing the weblink to liganda.ch.  It is a treasure trove of monetary history information and exactly the kind of thing I was looking for.. I thought I was doing path-breaking research.. but I see now that it was not even the tip of an iceberg.. there is a lot of information in your website.. I am downloading some of the pdfs and translating some portions into English.. It will still take some time for me to digest the information... hopefully, some day you would be able to have these as well in English.

Turkmenistan, Uzbekistan, Tajikistan, Kazakhstan and Kyrgyzstan were parts of Russian Federation (RSFSR) until 1936; so they used the same currency as RSFSR and USSR.

Based on this information and what was mentioned by ciscoins, I will conclude for now that the currencies in Ukraine, Belarus, Turkmenistan, Uzbekistan, Tajikstan, Kazakhstan and Kyrgyzstan was the RSFSR Rouble between 1919 - 1923.

RSFSR coins of 1921-23 were put into circulation only in 1924, after the final currency reform.

Dear Ciscoins - Based on this, I presume that the RSFSR kopecks and CCCP kopecks circulated alongside in 1924.  But, there was a 1:1,000,000 difference in valuation between these currencies, then were the 1921/22 RSFSR kopeck coins introduced at par with the 1924/25 CCCP kopecks?

Offline ciscoins

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Re: Russia and CIS - Currency Chronology Chart
« Reply #12 on: September 16, 2011, 02:56:30 PM »
Based on this information and what was mentioned by ciscoins, I will conclude for now that the currencies in Ukraine, Belarus, Turkmenistan, Uzbekistan, Tajikstan, Kazakhstan and Kyrgyzstan was the RSFSR Rouble between 1919 - 1923.

Different governments that came to power in Ukraine during the civil war issued Karbovanets in 1917-1920, and Hryvnia in 1918-1919. Starting with June 1919, RSFSR rouble was also in use.

Dear Ciscoins - Based on this, I presume that the RSFSR kopecks and CCCP kopecks circulated alongside in 1924.  But, there was a 1:1,000,000 difference in valuation between these currencies, then were the 1921/22 RSFSR kopeck coins introduced at par with the 1924/25 CCCP kopecks?

Yes, RSFSR coins were introduced at par with USSR coins. They were in circulation at all the territory of the USSR in 1924-1961.
Ivan
Moscow, Russia