Catalog
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| Issuer | Ukrainian State Treasury |
|---|---|
| Year | 1918 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | Купон білета Державної Скарбниці Дійсний на протязі 10 літ з 1 липня 1921 р. 3 гривні і 60 шагів Серія VIII No 072679 |
| Reverse description | The reverse is printed in rose-red and displays a large bold numeral '200' at the centre, set within an elaborate circular guilloche rosette composed of fine lathe-work ornamental scrollwork that fills virtually the entire field. |
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| Comments |
Issued by the Ukrainian State Treasury under the Central Rada government, this fractional denomination reflects the acute coin shortage that gripped Ukraine in 1918 as the country lurched through successive changes of authority — the Rada, then the Hetmanate, then the Directorate, all within a single year. Paper substitutes for small-denomination coinage were a practical necessity, not an ideological statement.
The shahiv subdivisions were never struck as coin during this period, making fractional treasury notes the only circulating form of small change. Pick 18 belongs to the broader 1918 Treasury series that also includes 10, 20, 30, and 50 shahiv values, all printed domestically under difficult wartime conditions.