Bond Coupon - 10 Roubles, 4% Interest Rate

These were detachable interest coupons from a Russian government bond issued during the Civil War. They functioned as interest payment coupons for bonds initially issued by the Treasury of the Russian Empire, though they soon fell into disuse due to the upsurge of the Russian Civil War and the subsequent establishment of the Soviet Union. The Bolsheviks repudiated much of the Tsarist debt, and consequently, the bonds and these coupons lost their official recognition.

These coupons were attached as strips to a bond of the time. At regular intervals, usually every six months, the holder would detach the coupon corresponding to the payment period, present it at a bank or other authorized institution, and receive the interest payment, which in this case was 4%. However, their legal status remained ambiguous due to the Revolution.

Based on the date and value of the coupon, we can determine that it belonged to a 500-ruble bond issued in 1915. Below is a picture of a bond with some of its coupons still attached to its side: