USSR - Soviet Socialist Republics

The Soviet Union, officially the Union of Soviet Socialist Republics (USSR), was formed in 1922 after the Bolsheviks won the Russian Civil War. It was led by Russia, but also included several other republics, such as Ukraine, Belarus, and the Caucasus. In the early years, the economy was nationalized, and industrialization and collectivization led to a complete transformation of society, often by brutal means. Under Stalin, the population was subjected to mass purges, gulags, and famines. In World War II, the Soviet Union played a decisive role in defeating Nazi Germany, and after the war, it emerged as a great power and became a rival to the United States in the Cold War. During the Cold War, rivalry took the form of a military, political, and space race. Meanwhile, economic and social tensions were growing, which the leadership tried to address with reforms (such as Gorbachev's perestroika and glasnost in the 1980s). In 1991, the republics gradually seceded from the union, and the Soviet Union officially dissolved. This ended an almost 70-year era that left deep traces in world politics and the history of Eastern European countries.

The coinage and monetary system of the Soviet Union (Union of Socialist Republics, 1922–1991) clearly reflects the political and economic history of the country. As part of the economic reconstruction after the Civil War, the chervonets currency was created in 1922, which was based on a gold standard. The chervonets was the first stable currency in the Soviet era, gradually replacing the various revolutionary and civil war paper money. The Soviet ruble (sovetskiy ruble) was the official currency, printed by the Gosznak (State Banknote Printing House) and the Leningrad Mint. During the war, currency depreciation increased, and economic difficulties led to inflationary pressures on the monetary system on several occasions. In 1947, a monetary reform took place, during which new banknotes were introduced and deposits of the population were partially or completely devalued. In 1961, another reform saw the introduction of new banknotes and coins with a ruble devaluation of 1:10. Coins ranged from 1 kopeck to 1 ruble, and banknotes were in denominations of 1, 3, They were issued in denominations of 5, 10, 25, 50 and 100 rubles. The Soviet coat of arms with a grain of wheat, symbols of the working people and Lenin's portrait were common motifs on the coins. The design and appearance of the money also served the Soviet ideology: they proclaimed popular rule, industrialization and agricultural development. Various commemorative coins were also minted from the coins of the Soviet Union (e.g. Gagarin's space flight, anniversaries of Lenin's birth). The use of money was strictly controlled, and trading in currency with foreigners was prohibited for most citizens. The convertibility of the ruble was extremely limited, and the official exchange rate did not reflect real market conditions.