(Mongolia)
Монголбанк
Bank of Mongolia (Est.1924)
Currency - Togrog/Tugrik/Tugrug (MNT)
These are two commemorative notes of 100,000 tugrik and the largest denomination of banknotes ever issued by the Bank of Mongolia. I understand that these notes are issued to celebrating the following occasions;-
1921-2021 - 100th Anniversary of Mongolia People's Revolution; and
1925-2025 - 100th Anniversary of Tugrik Currency (with date stamp on the back). The Mongolian tugrik was first introduced on 09.12.1925.
According to the central bank, this is a legal tender note issued mainly as a collectible item and as such is not intended for general circulation (confusing??). However, I have also read on the Internet stating that this note is not legal tender too. So, it's a bit confusing if this note is legal tender or not. I have a feeling that this note is not legal tender due to the denomination value.
The design for these two commemorative notes are the same and completely new, with the front depicting the Mongol Empire founder, Genghis Khan and on the back with seven national heroes of the 1921 People's Revolution which later led to Mongolia's gaining independence from China on 11.07.1921. The theme of these notes depict centuries of Mongolia's history linking the horse-warriors of Genghis Khan to the revolutionary leaders that led the country's independence today.
In order to tell the difference between the two notes, the one that is for celebrating the centennial of the People's Revolution is issued as a single note, whilst the one that celebrates the centennial of the Tugrik currency has a hand-date stamp (2025-12-09) added to the back. The hand-stamped note is issued in a simple folder.
The single note does not have this date stamp. Obviously, the date stamp was done after the note was printed and this stamp has been done manually as no two hand-stamp dates are the same on the exact location. The bank has not disclosed how many folders have been issued. Fancy stamping them one by one if this was made issued a thousand or more. I have both notes posted below.
I have no information as to why the bank did not release this note back in 2021, but one can perhaps assume it was due to Covid-19 that may have led to the delay until 2025. Better late than never.
One Hundred Thousand Tugrik (single note)
Front - On the front is the portrait of Genghis Khan (Chinggis Khaan b.1155-1227). His birth name was Temujin. Genghis Khan was the founder of the Mongol Empire and his conquering of China started in 1205 to 1279. The Mongol empire was the largest contiguous land empire in history, occupying about 9 million square miles, stretching from the Pacific Ocean (China) to Eastern Europe and the Middle East. The total land area held represented about 18% of the world's land area, which also includes part of Russia and Central Asia. The Mongol empire ruled China until 1368 and the occupier was replaced by the Ming dynasty (1368-1644). In the background, it depicts the landscape of Mongolia.
Signature - Byadran Lkhagvasuren (since 2019)
Watermarks - Genghis Khan and electrotype МБ
Date - 2021
Sizes - 150.5mm x 72mm
Back - On the back, the note honoring the 1921 People's Revolution leaders, the Mongolia famous seven national heroes who founded the Mongolian People's Party which led to the fight for independence from China and the White Russian occupier. The seven founding members are printed on an outline map of Mongolia, and to the right is a silhouette of a warrior on horseback. The seven national heroes are: -
Back row, from L to R
(1) Dambyn Chagdarjav (b.1880-1922) - Another founding member of the Mongolian People's Party and was the first prime minister of the Mongolian People's Party in 1920. In 1992 he was replaced and subsequently executed and was replaced by Dogsomyn Bodoo.
(2) Soliin Danzan (b.1885-1924) - Another founding member of the Mongolian People's Party and he became the chairman of the Party Central Committee in 1921. He was responsible for the purging and executing of Dogsomyn Bodoo in 1922. He then faced his own fate and was executed in 1924.
(3) Damdin Sukhbaatar (b.1893-1923) - Founder of the Mongolian People's Party and leader of the Mongolian partisan army. He died at the young age of 30, reportedly poisoned by someone unknown. His portrait has been depicted on Mongolian banknotes issued since the 1994 series. (His portrait is printed in the center and the largest of the 7 portraits on this note).
(4) Dogsomyn Bodoo (b.1895-1922) - One of the founding members of the Mongolian People's Revolutionary Party. He was elected as the Prime Minister in 1921 and forced to resign in 1922. He was later charged with treason and executed on 31.08.1922, aged 37 years old.
(5) Dansranbilegiin Dogsom (b.1884-1941) - He was the Chairman of the State Great Khural (Head of State) for 3 years from 1936 to 1939. Like Darizavyn Losol, he was also purged by Khorloogiin Choibalsan and sent to Moscow on 08.07.1941 and was executed on 27.07.1941.
The two portraits in front, L to R
(6) Darizavyn Losol (b.1890-1940) - Another founding member of the Mongolian People's Party. He was one of the seven members (the famous First Seven) that went to the Soviet Unions seeking support for Mongolia's independence from China. He was then purged in 1939 by Khorloogiin Choibalsan and arrested and charged of counterrevolution in Moscow. He died on 25.07.1940 before his case was brought to trial.
(7) Khorloogiin Choibalsan (b.1895-1952) - A politician and was the leader of the Mongolian People's Republic. He ruled Mongolia as a dictator and personally purged thousands of people including two of the seven national heroes. He was once considered as the favorite of Josef Stalin but the relationship between the two deteriorated and Khorloogiin Choibalsan did not even attend Josef Stalin's 70th birthday celebration held in Moscow. Instead, he sent Yumjaagiin Tsedenbal to represent him. In 1952, Khorloogiin Choibalsan travelled to Moscow for kidney cancer treatment and died within a week of his arrival.
As you can see, most of these seven founders did not end up well, with most of them dying at a very young age. None of them lived to the age beyond 60 years old. You may say that in the old days, men tended to die young, but these people are more or less self-inflicted. The best were Dansranbilegiin Dogsom and Khorloogiin Choibalsan as both lived to 57 years old.
No doubt those who were purged then have since all been exonerated and are now national heroes. Despite Mongolian gaining independence in 1921, this was only achieved when Stalin forced China to give up land and since then, Mongolia everything except independence as Stalin made it a satellite state of the Soviet Union under the control of Stalin. However, it is sad to say that these seven leaders must be at loggerheads all the time during their lifetime. To me, I would call them - Dog bites (other) dog's bones - 鬼打鬼 - Hantu berlawan Hantu!!
One Hundred Thousand Tugrik (Folder note)
Signature - Byadran Lkhagvasuren (since 2019)
Watermarks - Genghis Khan and electrotype МБ
Date - 2025-12-09 (manually stamped date)
Sizes - 151mm x 72mm
Back - In the lower left corner, the note is printed with the year date of 2021, which was the year Mongolia achieved it's independence. It seems that this note was supposed to be released in 2021 and I wonder if Covid-19 had anything to do with this note not being released then. In the lower center, the note is stamped with the date of 2025-12-09 in red, which represents the 100th anniversary of the tugrik currency. It seems that this date stamp was done manually after the manufacturing of this banknote. With this date red stamp added, I can assume that no two notes are the same, and with two different dates on this note, can this be considered as dual celebrations for the centennial of Mongolia's independence and the currency of tugrik? Somehow, I feel that with this manually red date stamp, it makes the note less authentic to me. If this was issued in the early 20th century, I have no issue but not for today. I wonder if a good or badly stamped date note would have any impact on the value of the note?
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