25 Dollars

Mongolia's 1924 currency issue was among the first acts of the newly proclaimed Mongolian People's Republic, which had declared independence from Chinese authority in 1921 and spent the following years building functional state institutions under Soviet guidance. The American Bank Note Company contract was a practical choice — ABNC had the security printing infrastructure that no Mongolian institution yet possessed — but it produced the odd result of a Soviet-aligned republic's inaugural paper money being engraved and printed in New York.

The "R" suffix on Pick 6 denotes a remainder: unissued notes returned without serial numbers or with incomplete authorization, which is now the primary form in which this denomination survives. Dangzan, one of the signatories, was executed in 1922 — before this note was formally issued — making his printed signature on circulating examples a bureaucratic artifact of a man already dead.