25000 rubles — RSFSR (1921)

The twenty-five-thousand-rouble settlement note is the first denomination of the second 1921 issue, authorised by the decree of the Council of People's Commissars of 30 July 1921 and put into circulation the same day. It carries two signatures: that of Nikolai Krestinsky, People's Commissar of Finance (the same on all notes), and one of ten cashiers. It was printed at three Goznak factories: the Rostov factory printed series АВ and АЭ, the Ural (Perm) factory printed АП and ББ, and the First Moscow factory printed АЖ, АЛ, АУ, АЧ, БЕ, БК; each block accounted for 1 million notes. The notes began to be withdrawn from circulation on 1 July 1922, and could be exchanged for 1922-series roubles at 10,000 to 1 until 1 November 1922.

The paper occurs in two varieties: with large six-pointed stars (Pick 115a, all three factories) and with small ones (115b, part of the Perm series only). Two signature mix-ups are known: blocks АВ-146 and АВ-149 have their cashier signatures swapped, and block АЧ-102 was issued with a number outside the regular "+3" sequence.

At the centre of the obverse is the inscription «РАСЧЕТНЫЙ ЗНАК РОССИЙСКОЙ СОЦИАЛИСТИЧЕСКОЙ ФЕДЕРАТИВНОЙ СОВЕТСКОЙ РЕСПУБЛИКИ», the value, the signatures of the People's Commissar of Finance and a cashier, and the block number. The reverse shows the value '25000' at the centre. The printing is brown. The note measures 163 × 88 mm.