The proposal for a new commemorative banknote from the Central Bank centers on showcasing Russia’s rich cultural landscape. Suggested motifs include iconic landmarks such as St. Basil’s Cathedral, the Hermitage, and historic towns of the Golden Ring, along with cities that joined Russia during the era of the Northern Military District. This viewpoint appeared in an interview with socialbites.ca by Yuri Shedko, a Doctor of Economic Sciences and professor in the Department of State and Municipal Administration at the Financial University under the Government of the Russian Federation.
“A second viable option highlights natural wonders: Lake Baikal, Kamchatka, and the Caucasus Mountains,” the economist noted. “A third direction focuses on scientific and technological achievements: portraits of eminent Russian scientists and inventors like Dmitry Mendeleev and Mikhail Lomonosov, or modern milestones in space exploration, such as the International Space Station.”
Shifting emphasis, Shedko underscored the importance of a Yuri Gagarin theme, especially in light of the upcoming centennial commemoration of the cosmonaut’s birth (April 12, 1934 – April 12, 2034). He proposed placing on the obverse a portrait of Yuri Gagarin in his spacesuit, alongside a depiction of the Vostok-1 spacecraft at launch, symbolizing humanity’s first journey beyond Earth. A starry sky and an Earth view from space would complete the scene. On the reverse, a sweeping panorama of the starry firmament could be paired with a quotation from Gagarin’s postflight remarks and elements of traditional ornamentation, complemented by a holographic feature to deter forgery.
In the economist’s view, the banknote’s denomination should begin at no less than 1,000 rubles. Smaller denominations would be less appealing to collectors, while exceedingly high values could hinder broad circulation and practicality. The value of a commemorative issue, Shedko explained, depends on multiple factors—circulation size, rarity, state of preservation, and the level of collector interest. Based on current outlooks, such a note might appreciate significantly over a decade, potentially increasing its face value by roughly three to ten times. The prospect of profitable sales to collectors rises sharply when the issue is produced in limited quantities and remains pristine if unused in circulation.
Historical context aside, the Bank of England’s June 5 agreement with King George III of Great Britain noted the circulation of banknotes bearing portraits of Charles. The Central Bank of the Russian Federation has a tradition of issuing commemorative coins, and to date has released three memorial banknotes: one honoring Russia’s 2014 Winter Olympic Games in Sochi, another commemorating the Crimean reunification, and a third marking the 2018 FIFA World Cup hosted in Russia.
Earlier reports highlighted that Russians engaged in a notable exchange during a recent Money Week, with substantial transfers of coinage recorded at 87 tons.