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25 Rubļi

Issuer Latvijas Valsts Kases
Year 1919
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Size 122 x 74 mm
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Signature(s) watermark: line groups black serial # - Purinsch & Vanags
watermark: line groups blue serial # - Purinsch & Vanags
red serial # Series A - Purinsch & Vanags
Series B green serial # - Purinsch & Vanagas
Series C, D Watermark: stars & hexagons - Purinsch & Vanags
watermark: light lines Series E, F, G - Purinsch & Vanags
watermark: light lines Series F, G 1 serial # - Kalnings & Vanags
Series H, K, L, M, N, P, R, S 2 serial # - Kalnings & Vanags
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Variants P#5a - watermark: line groups black serial # signatures: Purinsch & Vanags
P#5b - watermark: line groups blue serial # signatures: Purinsch & Vanags
P#5c - red serial # Series A signatures: Purinsch & Vanags
P#5d - Series B green serial # signatures: Purinsch & Vanagas
P#5e - Series C, D Watermark: stars & hexagons signatures: Purinsch & Vanags
P#5f - watermark: light lines Series E, F, G signatures: Purinsch & Vanags
P#5g - watermark: light lines Series F, G 1 serial # signatures: Kalnings & Vanags
P#5h - Series H, K, L, M, N, P, R, S 2 serial # signatures: Kalnings & Vanags
Comments

Latvia's State Treasury (Latvijas Valsts Kases) began issuing these notes in 1919, the year the country was simultaneously fighting Soviet and German forces for its survival as an independent state. The sheer number of distinct series — A through S, skipping certain letters — and the rotating watermark papers and serial number colours reflect improvised production under genuine wartime pressure, not orderly central bank planning.

The signature change from Purinsch & Vanags to Kalnings & Vanags, which appears mid-run within Series F and G before carrying into the later series, marks a personnel transition that coincided with the stabilisation period of 1919–1920. Later series with the stars-and-hexagons watermark used more securely sourced paper stock than the earliest black and blue serial issues.

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