From the collection of A.Yu. Kuznetsov. This is the exact variant illustrated in A.Yu. Kuznetsov's book "Paper Money of Russian Turkestan".
Since its founding in the early 20th century during the construction of the Trans-Caspian Railway, the town was called Kizil-Arvat.
In 1890, more than 100 residents of Kizil-Arvat appealed to the head of the Trans-Caspian Oblast with a request to allow them "...in order to reduce the cost of essential goods, to establish a consumers' society, since individual struggle against Armenian merchants is impossible...".