3 what modern banknotes are. What is bonistics

In the 21st century, virtual currency is used everywhere: bank cards and web wallets have taken over the world. But people still continue to use physical banknotes and coins on an equal basis with it. Why? In this article we will tell you what a banknote is and why such an old method of paying for goods and services will always be relevant.

What is a banknote?

A banknote is a solvent monetary sign made of paper or its analogues, allowing for exchange transactions.

For a long time, humanity has used its labor to obtain benefits, but soon a problem arose - the assessment of that very labor. When people began to build cities, socialize and do something other than extract primary resources, a huge variety of crafts appeared, which led to such an interesting phenomenon in society as barter: you - to me, I - to you. Some knew how to build, some were natural farmers, and some became excellent diplomats and ambassadors. And it soon turned out that there were so many types of activities that it was not possible to fairly evaluate each of them. This is how the first state banknotes appeared - coins and banknotes.

In essence, a banknote is an analogue of an agreement to purchase something, simply having a certain value set by the state in which it was issued. Its cost depends on many factors, such as: prices for resources, the number of banknotes in circulation and the state of the state’s economy.

With the advent of banknotes, a huge number of problems were immediately solved - labor became more valuable, and goods and services achieved by labor could easily be purchased by other people within the same society and state.

History of banknotes

The first mention of banknotes dates back to the 6th and 7th centuries AD. e. Eastern countries were preparing to introduce some “plates” that would allow their owners to acquire everything that was previously inaccessible to them. However, the first evidence of the appearance of a paper banknote was noted in the 8th century AD. e. in China. Since this is actually the first state that began to produce and use paper, all the facts indicate that the history of banknotes began from here.

A banknote is a kind of beginning of a new civilization, because previously the only banknotes were coins made of precious metals. The gold or silver coin itself had approximate value if sold as a piece of jewelry. And a banknote is just a piece of paper that advertises its value, but in reality it is not. Imagine how difficult it was to introduce such an unusual type of currency into circulation. Most likely, at first few people believed in the actual value of such banknotes.

Development of banknotes

But after the emergence of several large states and quite a long-term use of banknotes as banknotes, each empire and country began issuing their own banknotes and bonds. This has led to several types of problems.

Determining the value of one banknote relative to another. This problem is still the most acute, but at the same time it forms the economy of each state separately.
New banknotes of the state could not immediately enter into circulation until all the old funds were withdrawn from it. It was only under the influence of several major monetary reforms that the first documented change of banknotes was achieved.
Counterfeiting of money (counterfeiting). This problem has also not been resolved to date. Despite the fact that different countries around the world issue new banknotes almost every decade, fraudsters still manage to counterfeit even the most secure banknotes.

Life time

Like any other thing, banknotes themselves have a service life. For a variety of reasons, the state may reissue or stop the production of banknotes. New banknotes most often become technologically sophisticated: they are made of more stable material and have several degrees of protection that have not been used before. But there are situations when reissue of banknotes is simply necessary. For example, the service life of banknotes is coming to an end - the material loses quality, so new banknotes need to be introduced into circulation. History also shows us several cases of sudden re-issuance of banknotes - revolutions and changes in political power can affect this. The new ruler has the right to change the images and content of any banknote.

Let’s not forget about the economy, because in the event of a sharp devaluation, the first thing that will feel the drop in living standards is the cost of banknotes. It would be more accurate to say that the value of a banknote during devaluation may not coincide with the current state of the economy - in this case, reissue is also necessary, and the service life of banknotes from previous years immediately ends.

Validation check

Due to constant fraud and provocations, many measures have been taken to protect banknotes today. If it’s easier with coins, then banknotes are really difficult to protect; constant innovations in different countries confirm this. The authenticity of banknotes cannot be determined “by eye”, because even today fraudsters use the most sophisticated methods of counterfeiting. Simple watermarks and multi-layer highlights, which ten years ago were the know-how of the art of printing, are now being counterfeited very quickly. Therefore, Russian banknotes, for example, are updated every 5-10 years. You may not notice specific changes, but if you take even 100 rubles from a sample from the early 2000s and compare it with a modern one, you will find many differences. There are a lot of ways to check banknotes.

Cost of banknotes

Of course, in the modern world, almost all countries use banknotes, the cost of which is not too high. According to various numismatists, the real value of a Russian banknote ranges from 20 to 100 rubles, depending on the degree of protection imposed on it. If 50 rubles are protected only by glare, an image exposed to light and watermarks, then banknotes of 1000 and 5000 rubles have the maximum number of degrees of protection, which is logical - after all, scammers will try to counterfeit them.

Reference currency

The main currency on Earth is considered to be the dollar. Dollar banknotes undergo constant changes in value; the entire global resource market is valued in dollars. This happens because America, from the very beginning of its existence, has been the center of the world market for sales and consumption. The currency of this particular state is the standard for today. Dollar bills themselves remain virtually unchanged in design. Probably each of you has at least seen a dollar bill, if not in life, then at least in a movie or video game. But a genuine American banknote is almost impossible to counterfeit or devalue - it has a huge number of degrees of protection and is in circulation all over the world; in a bank in any country you can easily exchange local currency for dollars.

It is generally accepted that the euro is also the main world currency, but this is not entirely true. Since we live in countries near Europe, it seems that the euro is a very important currency, because we see exchange rates in banks both in dollar terms and in euros. In practice, the latter are used mainly by countries that are members of the European Union, nothing more. In Asian, South American and African countries, the euro currency is not valued in the same way as the dollar.

Final information

The influence of banknotes on the development of the market is colossal; they are used everywhere and everywhere. As long as states take responsibility for protecting banknotes, the banknote itself will be the safest currency - money from an online wallet or bank card is stolen more often, because cybercrime is growing exponentially, and at the same time the percentage of trust in physical money is increasing. This is the most profitable and safest relationship tool in any market, the test of banknotes over time proves this.

Federal Agency for Education

Novosibirsk State University of Economics and Management

Department: Monetary relations

Banknote

Student: Prosvetova

Svetlana Gennadievna

Group number: MOP-81

Name of specialty:

Organisation management

Literature

1. Banknote: concept, main features

There are several concepts of the word “banknote”. A banknote, as we understand it in everyday life, is cash embodied in paper and paint. If we consider this concept from the perspective of the world economy, a banknote is a form of credit money, which has a number of differences from paper money. Let's look at each of the definitions.

A banknote is, in the broad sense of the word, a monetary sign made of paper, thick fabric (usually silk), metal or plastic, usually rectangular in shape;

in a narrow one, a bank note of a large denomination (as opposed to a treasury note of a small denomination or a small change, which replaces a small coin).

Banknotes were previously issued by both public and private banks and financial companies, currently by the central banks of states and are required to be accepted throughout their territory along with coins.

The oldest banknotes are Chinese. They began to be produced back in the 8th century. In the USSR, starting from 1924 and up to 1992, paper banknotes in denominations of up to 10 rubles (one chervonets) were issued by the Treasury and were called State Treasury Notes, from 10 rubles and above - by the State Bank and were called Tickets of the State Bank of the USSR.

From a scientific point of view, a banknote is credit money issued by the Central Bank by rediscounting bills and lending to various organizations and the state. Initially, banknotes were issued by commercial banks and represented a bank bill. Their appearance was associated with the need to replace a debt obligation in the form of a commercial bill with a bill issued by a bank that had higher credibility than its predecessor. Unlike a bill of exchange, a banknote was a type of cash that could carry out an act of immediate payment, including in fractional parts. Over time, the consolidation of the monopoly right to issue banknotes to issuing (banks) gave the banknotes a public state guarantee. At the same time, they turned into perpetual debt obligations with universal negotiability, that is, they turned into mandatory legal tender throughout the territory of a particular state.

The first banknotes as a type of credit money became known from the end of the 17th century. and had double security: gold, since the gold reserves of the issuing banks ensured their exchange for gold, and commodity, since their emission was carried out on the basis of commercial bills. Such banknotes were called classic and were highly reliable and stable. In this regard, classic banknotes were able to perform the function of simple preservation of value inherent in full-fledged money, through the mechanism of their exchange for precious metal (gold, silver). Under conditions of free exchange of banknotes for gold, the number of changeable banknotes in circulation must be equal to the amount of gold required for circulation. Moreover, each banknote was a representative of the amount of gold indicated on it.

Unlike classic ones, modern banknotes lack both types of security: free exchange for gold has ceased; in the sphere of bill circulation, financial obligations predominate. Currently, the issue of banknotes is under the full control of the state, which assumes full responsibility for the operation of the monetary system.

2. The difference between a banknote and a bill and paper money

When comparing certain concepts, first of all you should understand what and with what we will compare. In the first section, I gave a definition of the concept of “banknote,” now let’s look in more detail at what a “bill” and “paper money” are.

A bill of exchange is a written promissory note in a form strictly established by law, giving its owner (the holder of the bill) the indisputable right, upon the maturity of the bill, to demand from the debtor (the drawer) payment of the specified amount of money. The bill has the following features:

1. Abstractness – an obligation without specifying the reason for its occurrence;

2. Indisputability – there is no possibility of refusing to pay the obligation;

3. Negotiability – the ability to transfer a bill of exchange to third parties.

The main differences between a banknote and a bill of exchange are that:

1. For a bill of exchange, the debtor is a company, an individual, for a banknote - the Central Bank (issued);

2. Banknotes have a public guarantee in the form of resources stored in the bank, therefore they act as public credit money, which has a special quality - universal negotiability. A bill of exchange has only a partial guarantee and is not a universal means of payment.

3. Banknote is a perpetual obligation. The circulation of bills of exchange is limited by the period of their payment.

Paper money is banknotes (signs of value), endowed with a forced denomination, usually not exchangeable for metal and issued by the state to cover its expenses. The main properties of paper money are:

1. Lack of intrinsic value;

2. The issue of paper money is associated not only with the real needs of circulation, but also with growing unproductive expenses

3. The mechanism of spontaneous regulation of monetary circulation does not apply to paper money, since paper money does not perform the function of a treasure.

4. Possibility of depreciation due to violation of the law of monetary circulation.

The main differences between banknotes and paper money are:

1. Subject of issue - banknotes were issued only by the bank; paper money may, in addition to the bank, be issued by the State Treasury or the Ministry of Finance;

2. Security - paper money is not exchangeable for metal and, as a rule, is not backed. Banknotes at the time of issue are backed by gold or bills of exchange;

3. The difference in the procedure and order of issue - the classic banknote was issued in order to credit trade turnover, paper money was issued initially to cover the budget deficit.

The transition of the issue of banknotes to state control is gradually blurring the line between banknotes and paper money. Technically, the banknote is executed on paper and in the sphere of circulation replaces metal coins. Therefore, it is perceived as paper money, acting as a substitute for gold. This is also facilitated by the fact that the volume of banknote issue is determined not only by the total value of bills presented for accounting, but also by the amount of settlements in that area of commodity circulation where bills are not valid and cash is used. The sphere of banknote circulation turns out to be the area where metal circulation and the circulation of credit money act together, through the same instrument of circulation. Since a banknote replaces a bill, it is credit money; since it simultaneously replaces gold in circulation, it is a representative of metallic money. If the government issues irredeemable banknotes into circulation, they become government paper money. This also leads to the concepts being confused, since we are talking about the same form of money, only in relation to different circumstances. When there is a healthy circulation of money, the bank note serves as a form of credit money intended to perform primarily the function of a medium of exchange. But when the state abuses its right to issue, suspends or stops the exchange of banknotes for gold due to certain circumstances, the banknotes degenerate into state paper money, which has no strong connection with either metallic or credit money.

3. Main directions of production of modern banknotes

Currently, modern banknotes are issued in three areas: bank lending to the economy, government lending, and an increase in official gold and foreign exchange reserves.

The gold coin standard collapsed with the onset of the general crisis of capitalism, when the 1st World War of 1914-1918 broke out. It was replaced by paper money circulation. After World War I, in 1924-28, an attempt was made to restore the Gold Standard, but not in its previous form, but in the form of a gold bullion and gold exchange standard. The circulation of gold coins could not be restored due to the lack of gold reserves and their uneven distribution between countries. Large amounts of banknotes were exchanged for gold bars weighing 12-14 kg (in Great Britain, France) or for foreign currency, exchanged, in turn, for gold bars (in Germany, Belgium, etc.). Gold was completely forced out of domestic circulation in all countries except the United States, where it remained until 1933. The exchange of banknotes for bullion was carried out, as a rule, only if it was necessary to repay the balance of payments deficit by exporting gold. However, these modified forms of the Gold Standard did not last long. Their complete collapse was caused by the global economic crisis of 1929-1933, as a result of which paper money circulation was established in all capitalist countries, including the United States, with its inherent phenomena of inflation, rising commodity prices, sharp fluctuations in exchange rates, etc. In 1931 the Gold Standard was abolished in Great Britain and Japan, in 1933 in the USA, in 1935 in Belgium and Italy, in 1936 in France, Switzerland and the Netherlands.

After the cessation of the free exchange of banknotes for gold, it was never resumed.

Literature

1. ru.wikipedia.org/

2. Great Soviet Encyclopedia

3. Leontiev V.E., Radkovskaya I.P. Finance, money, credit and banks: Textbook. – St. Petersburg: Knowledge, IVESEP, 2003. -384 p.

4. Shmyreva A. I. Money. Credit. Banks: Educational and methodological complex. - Novosibirsk: NSUEM, 2008. -132 p.

Functions of the central bank

Essence and functions of the Central Bank

The Central Bank of the Russian Federation is the main bank of the state, which is vested with special powers, including issuing national money and regulating commercial banking organizations.

The central bank in any country is a government agency that has the monopoly right to issue banknotes. The main functions of the Central Bank are to issue money and implement national monetary policy. This bank is the banker of the government and the bank of banks.

The main functions are to store the foreign exchange and gold reserves of the state. This bank does not work with individuals and enterprises; the link between it and the economy is commercial banks and special credit financial institutions. The Central Bank manages and controls the entire credit and financial system, establishing mandatory reserve requirements for commercial banks and acting as their lender of last resort.

The function of the Central Bank is an emission center

The Central Bank is an emission center, that is, it issues money. The Central Bank has the right to issue banknotes. The bank regulates the volume of cash emission, taking into account the overall costs of monetary policy.

The issuance of cash is carried out through the sale of banknotes and coins to commercial banks, exchanging their reserves at the Central Bank. Currently, the importance of the emission function has been slightly reduced, since banknotes have become a small part of the money supply in industrialized countries. At the same time, banknote issue is still used for payments in the retail sector. The higher the share of circulation in the state, the greater the importance of bank emissions.

Bank of banks

In the credit sector, the role of the Central Bank is that of a “bank of banks.” The main clients of the Central Bank are not commercial and industrial enterprises and citizens, but credit banks, mainly of a commercial nature.

Commercial banks can act as an intermediary between the economy and the Central Bank. Commercial banks are serviced by the Central Bank for passive operations.

The rarest and most expensive Russian banknotes

Banks keep part of their funds with the Central Bank as a cash reserve.

Most states impose an obligation on commercial banks to maintain a share of their cash reserves with the Central Bank. These reserves are called required bank reserves. The Central Bank can be thought of as a lender of last resort for commercial banks. It provides lending in the form of rediscounting bills and securities of commercial banks.

Government Bank

The Central Bank, regardless of the ownership of capital, has a close relationship with the state. He acts as the main banker to the state and adviser to the government in the field of financial and monetary problems. The Treasury stores available funds in the current accounts of the Central Bank, using them from its expenses.

The Treasury may pay suppliers by checks to the Central Bank. At the same time, the Central Bank uses interest-free and free funds from the treasury, performing free operations to replenish the budget. On behalf of the Treasury, the Central Bank may accept tax payments into its current account.

When there is a government budget deficit, the government's lending and debt management functions, which are carried out through the operations of the Central Bank, can be strengthened.

Other functions of the Central Bank

The Bank performs the function of monetary regulation and is the main conductor of monetary regulation of the economy. The main goals of this policy are to achieve stable economic growth, reduce inflation and unemployment, and equalize the balance of payments.

The central bank plays the role of a currency center by regulating reserves of foreign currency and gold. Traditionally, the Central Bank is the custodian of gold and foreign exchange reserves. The bank also performs the function of issuing government securities. Transactions with government securities make it possible to provide market financing of the budget deficit, forming the foundation for the development of elements of the capital market, contributing to the implementation of effective monetary policy.

Examples of problem solving

Paper money(paper money) – signs of value that replace full-fledged money in circulation. Paper money is not backed by precious metals and is not convertible into them, has a forced exchange rate and is issued by the state for use in cash circulation and to cover its expenses.

Paper money has several meanings:

legal means of payment - banknotes (credit money) issued for lending to the economy, the state and to increase state gold and foreign exchange reserves;
a means for covering state expenses, mainly the budget deficit, - treasury notes, issued, as a rule, by the treasury;
banknotes and any securities that can be used as money, such as checks, bills of exchange (even if they are not legal tender).

Paper money performs the functions of means: measures of value; appeals; payment; accumulations and savings during periods of relative stability.

Paper money has no intrinsic value; it acquires a representative value during the circulation process. The state, by establishing a forced exchange rate for paper money, gives it social significance.

The real value of paper money is determined by the law of value and the laws of monetary circulation, and not by the forced exchange rate and the mass of issued paper money. The gold content of the monetary unit, fixed by the state during the period of the gold standard (before 1978), may not correspond to its actual content.

When paper money circulates, it depreciates, which is expressed in a decrease in the purchasing power of money in relation to goods, services, gold and foreign currency.

Paper money arose in the process of circulation of real money (gold and silver coins) as the denomination indicated on the coins was separated from the actual weight of the metal contained in them.

In fact, the state can issue an unlimited amount of paper money in any denominations. However, the issue of paper money is subject to objective economic laws. According to the law of monetary circulation, the amount of money in circulation is directly proportional to the sum of commodity prices and inversely proportional to the speed of circulation of money. Its violation causes each currency note to “shrink” and represent a smaller amount of value.

Paper money first appeared in China around the 7th century. At first, they were a handwritten document confirming the deposit of heavy (iron or bronze) coins with the merchant. Often, on this document-receipt the number of “coins” that the receipt replaced was drawn (one receipt of the 14th century represented 1000 bronze coins with a total weight of 3.5 kg).

In the XVII–XIX centuries. paper money was issued in France, Great Britain, Sweden, Russia, and the USA. In France, in 1776, the Bank of the Commercial Accounts was established, which was entrusted with the issue of banknotes intended to cover government expenses. Although these banknotes were called banknotes, they were essentially paper money. The issue of paper money was widely used in France during the era of the Great French Revolution of 1789–1794: in 1789–1790. Assignats (French assignat) were issued, initially for 2.4 billion livres, by 1795 their amount was 40 billion livres. In February 1797, the assignats were canceled, and France returned to metallic currency circulation.

In the 19th century France returned to the paper monetary system twice: in connection with the February Revolution of 1848 and the Franco-Prussian War of 1870–1871. During the Franco-Prussian War, the French government expanded the production of banknotes to finance the war, declared banknotes irredeemable and gave them a forced exchange rate. Banknotes became paper money. This process subsequently became typical for many states.

In England, the paper monetary system existed from 1797 to 1820. In 1797, the “Restriction Act” was issued, according to which the Bank of England was exempted from exchanging banknotes for gold, a forced exchange rate for banknotes was established, and the latter essentially turned into paper money.

Question 15 Banknote as a type of credit money. Classic and modern banknote

In 1820, the exchange of banknotes for gold was restored, and banknotes again turned into credit money.

In North America, paper money was issued earlier than in European countries, during the period of the existence of the North American colonies of England (Pennsylvania, South and North Carolina, etc.). During the struggle of the English colonies in America for independence, the Congress of States in 1775 adopted a resolution on the issue of “continental money” for 3 million dollars. By 1779, their amount exceeded 240 million dollars. The rate of depreciation of “continental money” outpaced the rate of their release. The rate of paper money was falling rapidly, 1 silver dollar in 1780 was equal to 50–60 paper dollars. “Continental money” was liquidated on March 18, 1780 by devaluation (1 dollar in metal was exchanged for 40 paper dollars) with a delay in exchange for 6 years and using 5% bonds.

The US government again issued paper money during the Civil War of 1861–1865, issuing green bills - “greenbacks”. In total, paper money worth 450 million dollars was issued, they depreciated 2.5 times (for 100 gold dollars they gave 262 dollars in greenbacks). With the end of the war, the excess amount of money was withdrawn from circulation and the stability of the dollar was restored through revaluation.

In Russia, paper money was first issued in 1769 under Empress Catherine II in the form of banknotes, which were accepted as payments along with copper and silver coins. Initially, notes were issued in the amount of 1 million rubles. Catherine II intended to limit the issue of banknotes to the amount of 100 million rubles. However, by 1796, banknotes had been issued for more than 150 million rubles. Banknotes were in circulation in Russia before the monetary reform was carried out by the Minister of Finance, Count E.F. Kankrin 1839–1843

In Soviet Russia, paper money existed in the form of so-called “Kerenok”, issued by the Provisional Government in August 1917 in 20 and 40 ruble bills; in 1919, the Government of the RSFSR issued payment signs; later they were called “Sovznaki”. Sovznaki were denominated twice: in October 1921, 1 ruble. banknotes of the 1922 model were equal to 10,000 rubles. all previously issued banknotes; in November 1922 1 rub. sample 1923 was equal to 100 rubles. sample 1922 or to 1 million rubles. all previously issued banknotes. During these denominations, there was no exchange of banknotes; both newly issued banknotes and banknotes subject to redenomination were in circulation, for which a certain circulation period was established (up to 6 months after the announcement of denomination).

During the period of monetary reform of 1922–1924. The Soviet government in March 1924 issued treasury notes in denominations of 1, 3, 5 rubles. Parity was established between the chervonets and treasury notes (1:10). Thus, the gold content of the ruble was determined at 1/10 of the gold content of the chervonets, i.e. 0.774234 g pure gold. Treasury notes were backed by all the property of the state, i.e. They had no specific security. The issuer of treasury notes was the People's Commissariat of Finance of the USSR.

In 1925, the issue of treasury notes was transferred to the State Bank of the USSR. Formally, treasury notes in the USSR were issued and in circulation until 1991. In 1991, banknotes in denominations of 1, 3, 5 rubles. began to be called “Tickets of the State Bank of the USSR”. In 1993, these banknotes were withdrawn from circulation. Regardless of their name, they remained paper money because they had no intrinsic value and no commodity or gold backing.

Banknotes(from the English banknote - bank notes) - credit notes issued by banks of issue and replacing metallic money as a means of circulation and payment. Initially, it is a security that certifies the order of the issuing bank to itself to pay its bearer immediately upon presentation of a sum of money in coin in circulation. Currently, it is a substitute for paper banknotes issued by the central bank of issue.

The mention of the first Banknotes dates back to Ancient Babylon. The largest banking houses of Babylon issued documents certifying the fact that the issuer had accepted a certain amount of money for storage and the obligation of the custodian to return it at the request of the bearer of the document.

Bank notes, the issue of which is regulated by the state, were first issued with the establishment of the Bank of England (1694).

The most expensive banknotes of modern Russia

They acquired the force of legal tender (turned into national money) in 1833. In France, banknotes became a type of national banknotes in 1800-1803, in Germany (Prussia) - in 1846, in Holland - in 1814-1830 gg. Until the second half of the 19th century. banknote circulation was poorly developed and served mainly payments between capitalists.

From the second half of the 19th century. A system for regulating the issue of Banknotes is being developed that meets the requirements of capitalist production. Bank notes began to be used not only in the sphere of wholesale trade, but also as a means of payment for the payment of wages and as a means of circulation in retail trade.

The transformation of Bank notes into legal tender allowed the state, if necessary, to use the issue of Bank notes to cover its expenses. Banks of issue received permission to issue Bank notes backed not by gold and commercial bills, but by government bonds and were freed from the obligation to exchange Bank notes for gold. Thus, in fact, Bank notes turned into government paper money with a forced exchange rate.

The issue of Banknotes in Russia was first organized by the Moscow and St. Petersburg Assignation Banks in 1769. These Banknotes were called assignats. Subsequently, Russian banknotes were also called state credit notes, and later - bank notes or State Bank notes. The latter name was retained by Banknotes in the USSR. Banknotes were partially backed by gold, precious metals and other assets, but their main backing was commodity stocks.

Banknotes are banknotes, currently one of the main types of paper money. As a rule, they are issued by central banks. In Russia, they are produced by order of the Central Bank of the Russian Federation and are manufactured at the Federal State Unitary Enterprise Goznak from high-quality cotton paper. The paper contains violet, red and light green fibers, as well as a security thread located vertically and visible through light. The paper has local watermarks located on the left and right of the coupon fields of the banknote.

The following types of banknotes are currently in circulation in Russia:

1. Bank of Russia banknote denomination

10 rubles;

2. Bank of Russia banknote denomination 50 rubles;

3. Bank of Russia banknote denomination 100 rubles;

4. Banknote of the Bank of Russia denomination 500 rubles;

5. Bank of Russia banknote denomination 1000 rubles;

6. Bank of Russia banknote denomination 5000 rubles.

Sources used

1. Great Soviet Encyclopedia - M.: Soviet Encyclopedia, 1969,

2. Slovari.yandex.ru,

4. Vedomosti.ru/qlossary

Loving I.V.

BANKNOTE (bank, or bank, note)

1) initially - a security certifying the order of the issuing bank to itself to pay its bearer immediately upon presentation a sum of money in coin in circulation; 2) currently - a substitute for paper banknotes issued by the central bank of issue.

The mention of the first B. dates back to Ancient Babylon. The largest banking houses of Babylon issued documents certifying the fact that the issuer had accepted a certain amount of money for storage and the custodian's obligation to return it upon request of the bearer of the document. Usually their bearer was the one who deposited the money, although there were no obstacles to the transfer of the corresponding rights.

In Europe, the first bills were issued in 1694 with the establishment of the Bank of England. With the adoption of the Banking Act of R. Peel in 1844, the right to issue banknotes became a monopoly and was granted only to the Bank of England. This act also provided for a special banking system, which later received the name English: the entire issue, with the exception of a fixed amount, was to be backed by the metal reserves of the issuing bank, mainly gold. This was the first system of partial provision for B., which replaced the system of full provision.

The issue of banknotes in Russia was first organized by the Moscow and St. Petersburg banknotes in 1769. These banknotes were called banknotes. Subsequently, Russian banknotes were also called state credit notes, and later - bank notes or State Bank notes. The latter name was retained by B. in the USSR. Currently, Russian notes are called Bank of Russia tickets.

In France, the issue of banknotes began in 1800-1803, in Germany and Prussia - in 1846. Regular bank failures due to uncontrolled emissions of banknotes, increasing social tension and worsening economic turmoil led all continental European states (like England earlier) to introduce monopoly of the production of goods. These countries created a new system of providing goods, which received the name German. Unlike the English system with its limit on fiduciary emission (bank emission not backed by the stock of precious metals of the issuing bank), the German system provided for a minimum share of B. At the end of the 19th - beginning of the 20th centuries. in various countries, this share ranged from 50 to 30% of the total volume of B production. Later, another support system was developed, called the American one, the essence of which was a kind of “doubling” of partial support: 15% of the volume of B issue.

was backed by gold and, in addition, 90% by government securities. A special kind of regulations existed in France, where the legislator simply determined the maximum volume of banknotes that could be in circulation, without indicating what and how much it was secured, although, of course, he also proceeded from some minimum security standards.

Thus, the volume of gold issued was tied to the size of the gold reserves of the issuing banks, which created, firstly, the possibility of exchanging gold for gold, which at that time served as a monetary metal, but, secondly, during periods of outflow of gold reserves it led to financial crises. During the First World War, the exchange of gold for gold was actually stopped, although this circumstance received legal recognition much later. Banks became substitutes, first for money itself in circulation, and then for paper money.

Due to the loss of bonds with gold backing, it can be concluded that at present their issue should be carried out either in response to the growth of national wealth, or in the form of lending to production, foreign and domestic trade. Consequently, B. turn into obligations of the state as a whole, since it gives them a compulsory course, i.e. is obliged to guarantee that each holder of B., regardless of their amount, will be able to exchange them for real goods, works, services - elements of an asset of the national economy.

Thus, today’s entry about “securing” Bank of Russia tickets is equivalent to the assumption by the state, represented by the Central Bank, of the obligation to ensure a stable and sustainable purchasing power of the monetary unit. Moreover, the state’s obligation to ensure the purchasing power of banknotes (B.

and coins) makes sense only if the scale of prices is specified, beyond which the state has no right to go.

Modern money: stages of success

Descriptions of new banknotes, including B., must be published in the media. Dilapidated and damaged banknotes are exchanged by the Bank of Russia without restrictions. Currently in Russia, banknotes are circulated in denominations of 5, 10, 50, 100 and 500 rubles.

Collecting paper banknotes has a long history. The first paper money appeared in Ancient China. Due to the abundance of payments that small coins could not cope with, the emperor ordered paper receipts to be put into circulation, each of which was to be unconditionally exchanged for ten thousand coins. Experts say that it was then that the first collectors of paper money appeared. In Russia, the first collectors of banknotes arose after 1769, when banknotes came into circulation.

Collecting paper banknotes is called bonistics, and collectors in this path are called bonists. Unlike numismatics, bonistics, as a recognized field of collecting, is quite young. It developed in the middle of the twentieth century. The International Association of Paper Banknote Collectors declared itself only in 1961. In the 70s of the last century, national catalogs of paper money appeared, and then "Standard Catalog of World Paper Money", which combines information about paper money from all countries of the world throughout the history of their existence.

Domestic bonistics emerged from S.I. Chizhov’s book “The First Russian State Banknotes,” although earlier works in this area are also known. It received a powerful impetus for development almost immediately after the formation of the USSR, since the Soviet state was flooded with all kinds of banknotes issued in the pre-revolutionary period and during the civil war. Most of them could not be exchanged for Soviet rubles, which created fertile ground for collecting. Along with postage stamps and coins, the SFA (Soviet Philatelic Association) begins to sell collections of bonds.

The abundance of banknotes of the USSR that have gone out of circulation and the national currencies of the republics that were previously part of it caused a significant increase in the number of people who became interested in bonistics in our time.

Often those who have received a commemorative banknote join the ranks of collectors. In modern Russia, paper banknotes marked such important events as the Olympic Games Sochi, and the football world championship. An inevitable surge of interest arises when new banknotes are put into circulation, as happened with the appearance of 200 and 2000 ruble notes, which are not similar in design to the previous banknote series. However, the interest of bonists is not limited to only. The collection of banknotes with a railway theme has become very popular in the world. Closely related to classical bonistics is the collection of all kinds of monetary surrogates - from regional issues (Ural francs) to MMM tickets. Here you can also include various subtypes of souvenir money, for example, banknotes in denominations of 0 euros.

A novice collector of banknotes should remember that a stack of banknotes from various countries and eras is not a collection. To create a collection, you need a theme and the presence of collection bonds that reflect it. Dirty, torn and wrinkled copies are acceptable only if better quality is difficult to obtain.

Most often, a novice collector has a question: how much is his collection valued at? It is almost impossible to give a direct answer to this question, since many factors come into play at once. The first of them is the presence or absence of these banknotes on the collection market. After the collapse of the USSR, there was such an abundance of bank and treasury notes that had been in circulation that there would be enough of them for many generations of collectors, which is why such collections are still sold almost by weight. However, any congregation may have its own hidden pearl.

5000 Ukrainian karbovanets (coupons) safe "PRESS"

First of all, you should pay attention to the safety of the boom. Collectible safety for modern bonds is the condition (“PRESS”), which means the absence of even the weakest fold and undisturbed corners. The slightest defect in the boom immediately removes it from the “Press” category. However, infrequent and rare bonds are also in demand in weaker condition. For example, 500,000 rubles printed before the redenomination was a very substantial amount for those times, so most of them were spent or exchanged for new banknotes. Therefore, the appearance at auction of even a specimen with traces of long-term circulation attracts attention. But it is precisely the “Press” category that is capable of raising the amount of care for this bond to sky-high heights.

The year of manufacture also matters. Modern Russian banknotes have gone through several stages of modification, which have slightly changed their appearance. Bonds with old modifications or with no modification are gradually leaving circulation. And the collection hunt begins for them. Therefore, it is a good idea to remember that older issues may be worth more than the denomination printed on it.

Watermark is a mandatory protective feature of modern bonds. But its location sometimes brings surprises. An inverted watermark or one that differs from most banknotes will certainly arouse collector's interest.

The banknotes of many countries also include a facsimile of the responsible official. The design of the bonds is unchanged, but periodically changing signatures have created a cohort of collectors who strive to own each of them. For domestic banknotes from tsarist times and the first years of Soviet power, there are also collection collections that include all options.

In troubled periods, when inflation goes through the roof, they often do not have time to print banknotes of the required denomination, then old-style bills with overprints new denomination. The variations of such overprints are very diverse, which well illustrates the history of monetary circulation of this period. Of course, even a novice bonist should be able to separate official overprints from advertising samples and all sorts of bright pictures applied by enthusiastic merchants and turning a payment mark into a souvenir.

A highly specialized area of bonistics is the collection of trial bonds or samples (the corresponding inscription is either overprinted or perforated). The number of such copies is small, but the cost is high. Therefore, any bond with the inscription “Sample” deserves close attention.

Issued into circulation and guaranteed by central (issuing) banks. Currently, they are the only legal means of payment on the territory of the Russian Federation. Their counterfeiting and illegal production are prosecuted by law. Banks and coins are recognized as unconditional obligations of the Central Bank of the Russian Federation and are secured by all its assets.

Large legal dictionary. - M.: Infra-M. A. Ya. Sukharev, V. E. Krutskikh, A. Ya. Sukharev. 2003 .

Synonyms:

See what "BANKNOTE" is in other dictionaries:

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banknotes issued for circulation and guaranteed by central (issuing) banks. Currently, they are the only legal means of payment on the territory of the Russian Federation. Their counterfeiting and illegal production are prosecuted by law. Banks and coins are recognized as unconditional obligations of the Central Bank of the Russian Federation and are secured by all its assets.

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BANKNOTE (bank, or bank, note)

In France, the issue of banknotes began in 1800-1803, in Germany and Prussia - in 1846. Regular bank failures due to uncontrolled emissions of banknotes, increasing social tension and worsening economic turmoil led all continental European states (like earlier England) to introduce monopoly of the production of goods. These countries created a new system of providing goods, which received the name German. In contrast to the English system with its limit on fiduciary emission (bank emission not backed by the stock of precious metals of the issuing bank), the German system provided for a minimum share of B. At the end of the 19th - beginning of the 20th centuries. in various countries, this share ranged from 50 to 30% of the total volume of gold issue. Later, another security system emerged, called the American one, the essence of which was a kind of “doubling” of partial support: 15% of the volume of gold issue was provided by gold and, in addition, 90% - government securities. A special kind of regulations existed in France, where the legislator simply determined the maximum volume of banknotes that could be in circulation, without indicating what and how much it was secured, although, of course, he also proceeded from some minimum security standards.

A banknote and a coin of the Bank of Russia cannot be declared invalid (lost the validity of a legal means of payment) unless a sufficiently long period of their exchange for a banknote and a coin of a new type is established. Sufficiently long means a period of at least a year. No restrictions on amounts or subjects of exchange are allowed. Decisions on the release of new banknotes and coins into circulation and the withdrawal of old ones, as well as denominations and samples of new banknotes, are made by the Board of Directors of the Bank of Russia. Descriptions of new banknotes, including B., must be published in the media. Dilapidated and damaged banknotes are exchanged by the Bank of Russia without restrictions. Currently in Russia, banknotes are circulated in denominations of 5, 10, 50, 100 and 500 rubles.

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