and hryvnia were in circulation. After that, the use of the karbovanets as a national currency was discontinued. Banknotes First karbovanets In 1917, the Central Rada of the Ukrainian People's Republic introduced 100 karbovantsiv notes. These were followed in 1918 by State Treasury notes for 25 and 50 karbovantsiv. That year also saw the issue of postage stamp currency denominated in shah and various bonds, together with state credit notes in denominations of 2, 10, 100, 500, 1,000 and 2,000 hryven. The Directorate issued notes for 100, 250 and 100 karbovanets in 1918, followed by 10 and 25 karbovanets in 1919. State notes for 5, 50 and 1,000 hryven were issued in 1920. Second karbovanets Banknotes were introduced in June 1942 in denominations of 1, 2, 5, 10, 20, 50, 100, 200 and 500 karbovanets. The banknotes were in dark colour, carrying nearly all inscriptions in German, and a warning in both German and Ukrainian stating "falsification of banknotes is punished by imprisoning". The obverse of the notes all featured a portrait, including children, a peasant, a miner, a seaman and a chemist. The Nazi Reichsadler also appeared. Third karbovanets In 1991, notes were introduced in denominations of 1, 3, 5, 10, 25, 50, and 100 karbovanets (also called kupons or coupons). All 1991 banknotes were of the same design, picturing Lybid from the monument of the founders of Kyiv on the obverse, and the Sophia Cathedral on reverse. The banknotes did not carry individual serial numbers or signatures. In 1992, banknotes for 100, 200, 500, 1,000 karbovanets were issued, which carried serial numbers and were better protected to counterfeiting. In 1993, banknotes for 2000 and 5000 karbovanets were issued. Having similar designs as the 1992 banknotes, they were the first to carry the Coat of arms of Ukraine. In the same year, notes for 10,000, 20,000, 50,000, 100,000 karbovanets were also introduced into circulation, which were bigger in size and pictured the Volodymyr Monument on the obverse and the Kyiv Opera on the reverse. Subsequently, banknotes for 200,000 and 500,000 karbovanets were introduced in 1994, followed by the 1,000,000 karbovanets banknote in 1995, which pictured the Taras Shevchenko Monument in Kyiv. See also Ukrainian hryvnia, the national currency of Ukraine since 1996 Ukrainian shah, historical currency of Ukraine Economy of Ukraine References External links Chernoivanenko, Vitaliy. History of paper money in Ukraine (1917–1920) in Zerkalo Nedeli, September 22–28, 2001.