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25 Roubles

Issuer Assignation Bank of Russia (Ассигнационный Банк)
Year 1818-1843
Type Standard circulation banknote
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Obverse description Central vignette comprises the Imperial crowned double-headed eagle with shield at the top centre of the note. The text block bears two signatures: the first printed and the second handwritten, consistent with the Assignation Bank's issuance practice. The entire composition is set within a plain letterpress border with the denomination and payment obligation text arranged in a formal typographic layout.
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Reverse description The reverse is largely plain, with the numeral denomination '25' set within a shaded rectangular panel with cut corners, positioned in the lower central area of the note. The surrounding field is unprinted, relying on the elaborate watermark as the primary security and decorative element.
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The Assignation Bank was never truly independent — it functioned as a state printing operation under direct Imperial control, and by 1818 its notes were already regarded with deep public skepticism. Russia's assignat system had been inflating steadily since Catherine II founded the bank in 1769, and by the time this series was introduced the rouble assignat traded at a steep discount to the silver rouble, a gap that would only widen through the 1820s and 1830s.

The entire assignat system was wound up under Finance Minister Kankrin's 1839–1843 monetary reform, which retired all assignats at a fixed rate of 3.5 assignat roubles to one new silver rouble — a ratio that encoded the currency's long devaluation directly into the redemption terms.

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