UKRAINE. Emissionniy Bank. 5 Chervontsiv, 1941. P-47a. German Occupation WWII. PMG About Uncirculated 50.
Operation Barbarossa began on June 22nd, 1941, which saw 3.8 million personnel of the Axis powers invade the Soviet Union (the largest invasion force in the history of warfare). The Soviet Red Army was suffering internally at the time of the invasion due to the Great Purge of the officer corps by Stalin, most of whom were executed or imprisoned. Initial advances were immense by the Axis invaders, swallowing up large swaths of land and prisoners. The advance was eventually stopped in December of 1941, when the Red Army was able to regroup and start launching counter-offensives. Much of Ukraine was occupied from 1941 until October of 1944. The warfare in Ukraine was brutal (much like the rest of the Eastern Front), with many atrocities and war crimes having been committed by the Nazis. Currency was issued by Nazi Germany in their occupied territories during the War, with Ukraine being one of these areas. This 5 Chervonets (5 Gold Rubles) note was intended to be circulated in the occupied Ukrainian territory, however the Germans decided not to circulate currency with the Russian language on it. Instead, the Zentralnotenbank Ukraine issue was issued, which includes P-49 through P-57. This P-47a note was possibly saved incase the Reichskommissariat Ukraine, which was the civilian occupation regime of the country, decided to issue this Russian language series after the conquest of the Soviet Union was completed. The design of the note features three large "5" counters on the front, and five on the back. The underprint is a green in the center, with red comprising the rest on the obverse. The back is printed in a dark brown ink. "Киев" (Kiev) at center next to a date of 1941. This note was never issued for circulation, and it is a miracle of survival for collectors today. Only two examples have been graded by PMG, a VF30 and this impressive AU 50 note. PMG comments "Minor Rust". PMG Pop 1/None Finer.

Estimate: $20000.00- $30000.00