USSR — Chervonets (1924 — 1932)

The chervontsy of 1924–1932 are State Bank of the USSR notes of 1, 2, 3 and 5 chervontsev with their gold content stated on them. All the denominations remained in circulation until the currency reform of 1947.

According to the text on the notes, a chervonets contains 7.74234 grams of pure gold, and exchange for gold will begin under a special act of the government. The first to appear, on 15 August 1924, was the 3-chervontsa note — already in the name of the State Bank of the USSR rather than the RSFSR. It was followed by the 1 chervonets of 1926, the 2 and 5 chervontsev of 1928 and the 3 chervontsa of 1932. The date on the plates was not changed for years: the 1-chervonets note of 1926 was printed until 1934.

Almost all the designs are by Ivan Dubasov, and Goznak printed the notes. On the notes of 1928 and 1932 the text of the law is repeated in the languages of the union republics. The notes were signed by the whole board of the State Bank, so the signatures change with its membership — they are how issues of the same denomination are told apart. The chervontsy were withdrawn from circulation on 14 December 1947.