Russian Soviet Federative Socialist Republic, 50 Kopecks 1921

After the October Revolution of 1917, civil war broke out in Russia. The economy, already shattered by the First World War, collapsed. The civil war lasted until 1920, when the Communists finally managed to crush the counter-revolution. Until then, Russia's agricultural output had dropped by one third compared to the time before the war. The heavy industry produced about 20 percent of the pre-war volume, while the rest of the industry generated about 40 percent. To prevent the Russian economy from total collapse, the Soviets launched a "New Economic Policy" in 1921. This meant a restricted return to economic liberalism, and a stabilization of the currency. The RSFSR (Russian Soviet Federative Socialist Republic) issued new silver coins between 10 kopeks and 1 ruble. They bore the coat of the republic, a hammer and a sickle within a wreath of ears. The inscription read: "Proletarii wsech stran, sojedinjaites!" ("Proletarians of all countries, unite!").