3 Roubles

The sheer number of signature combinations on this issue — over twenty pairings across two State Bank directors, Eduard Pleske and Sergei Timashev — reflects a decade-plus print run during which the cashier's post turned over repeatedly while the design itself never changed. Pleske directed the bank from 1894 until 1903, Timashev from 1903 to 1909, and collectors who work this series treat the signature combinations almost like a subspecies problem, since certain pairings are substantially rarer than others.

The watermark paper was produced domestically. Unlike many contemporary European state issues, Russia kept this production entirely in-house at the Ekspeditsiya Zagotovleniya Gosudarstvennykh Bumag — the same facility that printed it.