Soviet Money of the Early 1920's
Sovznaki (Soviet tokens)
These three notes were all issued in 1921, when hyperinflation was still raging. The 500 would have been issued as "small change." All three are stated to be "backed by all the possessions of the republic."
Chervonets (the new, stable 10-ruble note issued from 1922)
The Translated Text
One CHERVONETS contains 1 [large weight measure] and 78.24 [small weight measure] of PURE GOLD
This banknote is eligible for exchange into GOLD.
The initiation of exchange [into gold] will be established by a special government act.
This banknote is backed in full measure with GOLD, precious metals, stable foreign currencies and other assets of the STATE BANK. This banknote is accepted at its face value for payment of state taxes and payments that by law are assessed in GOLD.
Management Board of the State Bank