RSFSR — Settlement notes (1920 — 1921)

The settlement notes of 1920–1921 were the last money of the RSFSR before the redenomination of 1922. In two years the denominations grew from 3 to 100,000 roubles.

The notes were issued by the Budget and Settlement Department of the People's Commissariat of Finance. A decree of the Council of People's Commissars of 26 November 1920 introduced the 3, 5 and 50-rouble notes — small, without date, signatures or numbers; they were printed in sheets and cut by hand, so their size varies.

A decree of 16 June 1921 added the 100, 250, 500, 1,000, 5,000 and 10,000-rouble notes dated "1921". The denominations up to 1,000 roubles are small notes without signatures or numbers and with an almost blank back; they were printed in sheets of 20. The 5,000 and 10,000 roubles are large notes: they carry the signatures of the People's Commissar of Finance N. Krestinsky and a cashier, a block number and the slogan "Workers of the world, unite!" in several languages. A decree of 30 July 1921 introduced a second issue — 25,000, 50,000 and 100,000 roubles, also signed by Krestinsky and a cashier. The notes were printed at the Goznak factories in Moscow, Perm, Penza and Rostov-on-Don, and the large denominations at other Moscow printing works as well.

The issue of settlement notes ended on 1 July 1922, and until 1 November 1922 they were exchanged for 1922-pattern roubles at 10,000 to 1.