As during World War I in the areas occupied by the German army during World War II the existing monetary systems were left. This resulted from the provisions of the Hague Convention of 1907 which obliged the occupying state to act in such a way. One of the signatories of the convention was the German Empire and the Third Reich was its continuator. In connection with the attack of Nazi Germany on the Soviet Union - June 22 1941 - in the occupied territories it was planned to put into circulation Roubles and Chervonets with the same denominations as the Soviet ones. These were the so-called "Rosenberg Roubles". For the unknown reasons this project was abandoned. The printed banknotes were never put into circulation. Only denominations of 1 Rouble and 1 and 5 Chervontsev are known on the collector's market. In order to win the favor of Ukrainians living in the occupied areas of the USSR the Germans decided to establish the Central Bank of Ukraine in Rivne which would issue Karbovanez which became legal tender.
5 Chervontsev from 1941 belong to the so-called "Rosenberg Roubles". These denominations corresponding to the Soviet banknotes issued in 1937 and 1938. They were printed at the Reichsdruckerei in Berlin. Similarly to the Soviet Chervontsev issued in 1937 in the center of the reverse there is a numerical indication of the face value. In the corners of the reversevare additionally four smaller numbers denoting the face value. Just like on Soviet banknotes the word value was described in ten languages of the nations living in the USSR.
The banknote offered at the auction was graded by 30 (Very Fine) by Paper Money Guaranty. Currently the PMG census shgows n three 5 Chervontsev banknotes issued in 1941. Two of them are rated 30 and one is 50. The highest-rated example was sold in January 2023 at the New York International Numismatic Convention for $19,200.
Offered banknote is by far the most desired Ukrainian banknote. The offered note is in attractive condition with well preserved colours and relatively clean paper. There are several folds through the design but no tears and the overall eye appeal is great. Most imporantly the note does not show any signs of washing or pressing. A truely magnificent piece which for sure will become a star in any collection.
