The Uzbek national name seems to have originated in the 1300s from the Mongol ruler Khan Öz Beg. Under his grandson, the tribal federation the Uzbeks had formed in the early 1500s invaded and occupied the settled regions of Bukhara and Samarkand and, later, Urganch and Tashkent, where they ousted the earlier empire founded by Timur (Tamerlane).The Uzbek dynasty ruled until 1598, after which the region passed through various hands. By the 1800s, present-day Uzbekistan was under the nominal control of the khanates of Bukhara, Khiva, and Kokand, all of which were conquered by Russia from 1855 to 1876. Uzbekistan was part of the Turkestan Soviet Socialist Republic (SSR) within the Russian SFSR. The Turkestan SSR was part of the Russian SFSR when the Soviet Union was founded on January 1, 1923. The Uzbek SSR was proclaimed on October 27, 1924, and acceded to the Soviet Union on May 13, 1925. The Republic of Uzbekistan declared its independence on August 31, 1991. See the separate entries for Bukhara and Khiva for coin issues before 1923.
Uzbekistan's monetary history followed that of the Soviet Union until it gained its independence in 1991. Russian Rubles (RUEP) were used in Uzbekistan until 1918. The Russian Ruble Sovnazki (RUFS) replaced the Tsarist Ruble at par in 1918. Lenin deliberated pursued inflationary policies to debilitate the capitalists. The resulting inflation led to the creation of new currencies, which also suffered from inflation. The Russian Ruble of 1922 (RUFR) was introduced on January 1, 1922 and replaced the Ruble Sovnazki at the rate of 1 Ruble of 1922 equal to 10,000 Rubles Sovnazki. The Soviet Ruble of 1923 (SUB) replaced the Ruble of 1922 at the rate of 1 Ruble of 1923 equal to 100 Rubles of 1923.
The Chervonetz (SUC) was introduced on December 27, 1922, which was backed 25% by gold, and eventually replaced the Ruble Sovnazki as a unit of account. The Gold Ruble (SUG) was introduced on March 7, 1924 equal to 1/10 Chervonetz and 50,000 Rubles of 1923 (i.e. it took 50,000,000,000 Soviet Gold Rubles to get one Tsarist Gold Ruble). A New Ruble (SUN) replaced the Gold Ruble on December 29, 1947 at the rate of 1 New Ruble equal to 10 Gold Rubles. On January 1, 1961, the Hard Ruble (SUR) replaced the New Ruble at the rate of 1 Hard Ruble equal to 10 New Rubles.
When Uzbekistan gained its independence, the Bank of Uzbekistan issued the Coupon Sum (UZC), at par with the Russian Ruble (RUR). In July 1994, the Central Bank of the Uzbekistan Republic introduced a new Sum (UZS), equal to 1000 Coupon Soms. The Coupon Sum was divisible into 100 Kopeks, and the Sum is divisible into 100 Tiyin. |
This note is dated 1994 and valued at 50 Sum. The note is dark brown, olive-brown and dull brown-orange on multicolored underprint. The obverse features the National Coat of Arms in the upper center, with the denomination in the center and to the left, all surounded by a geometric pattern. The reverse depicts Registan Square. The Registan was the heart of the ancient Samarkand (or sandy place) in Uzbekistan. Registan Square is made up of 3 Madrasah's (or Moslem clergy academy): Ulugbek Madrasah (built between 1417 and 1420), the Sher-Dor Madrasah (1619-1636) and the Tilya-Kori Madrasah (1646-1660). The note has a watermark depicting the National Coat of Arms.
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