USSR — Third Rouble tail (1923)

The three highest denominations of the 1923 sovznaks — 10,000, 15,000 and 25,000 roubles — were issued by the People's Commissariat of Finance of the USSR rather than the RSFSR. They were the last sovznaks before the currency reform of 1924.

The notes were still signed by the People's Commissar of Finance G. Sokolnikov, but with a new facsimile. The reverse text is repeated in the languages of the union republics, and the paper carries a watermark of diagonal "windows" of four squares. On the 10,000 and 15,000 roubles the cashier is set by the last digit of the number (ten cashiers per denomination), on the 25,000 roubles by the block number (four cashiers).

The 10,000 roubles came out in 1923, the 15,000 on 18 December 1923 and the 25,000 on 7 February 1924. All three were withdrawn on 31 May 1924. Specimens of the 10,000 and 15,000 roubles are known perforated and with a red "ОБРАЗЕЦ" overprint, of the 25,000 only perforated.