HRYVNIA. MORE THAN MONEY
How much do you know about the hryvnia in your wallet? Take a closer look at it. In your hands is more than just money. It is a true map of the history and culture of Ukraine. Over more than a thousand years, the form and visual content of the hryvnia have changed, but its role as a tool for identification and reflection of national values has remained unchanged.
The hryvnia represents the stages of nationhood, political shifts, cultural achievements, and the struggle for freedom. The hryvnia can tell us what we consider valuable, whose names are worth remembering, whose voices to listen to, who we are, and perhaps who we want to be tomorrow. The hryvnia, like the Ukrainian coat of arms, flag, and anthem, is a symbol of state sovereignty, historical continuity, and national consciousness.
The hryvnia is a history etched in design, colors, and imagery. That’s why our exhibition is like a journey through time. It allows us to trace the evolution of Ukraine's currency: from its inception in Kyiv Rus, to the emergence of banknotes of the Ukrainian People's Republic, and further to the revival of the hryvnia in the times of independence. All this history is here, in your wallet or in your bank account.
During the years of russia's full-scale invasion, the hryvnia has become a tool of unity, a symbol of resistance and resilience: donations and collections for the Armed Forces of Ukraine are our collective response to the enemy and support for our people.
The hryvnia is art. That is why it is presented in the same exhibition row as paintings, graphics, and sculpture. The hryvnia equally supports cultural dialogue in the context of artworks from the early 20th century, the works of the Sixtiers (an artistic school of the 1960s), and contemporary artists.
The design of the hryvnia – from numerous authors’ sketches to circulation banknotes and coins – has its own complex visual language: ornaments, fonts, portraits of prominent figures, images of historical monuments, and national symbols. Ukrainian money, as a form of graphic art, combines aesthetics and modern printing technologies, thanks to which individual design elements can serve as security features.
Ukrainian money holds not only practical but also symbolic value for us, determined by the synthesis of functionality and artistic nature, technological expertise, and cultural narrative. In every hryvnia lies a holistic image of the nation in the space of its material culture.
Dasha Podoltseva
2025
Installation, digital print, LED moving text
The multifaceted essence of the hryvnia—its artistic, historical, and symbolic aspects—takes form in the spatial-visual installation by artist and designer Dasha Podoltseva.
Fragments of banknotes and coins from various eras, archival documents, photographs of historical figures and architectural monuments, as well as texts intertwine to create a dynamic composition and multilayered narrative. When viewing the artist's work from a distance, we see not separate fragments but a cohesive picture. Just like in a mosaic or tapestry, individual "pixels" gain meaning only through interaction.
In this sense, Dasha Podoltseva's installation functions as a kind of archive and at the same time an artistic interpretation. It raises questions about permanence and changeability, about material and symbolic values, about money as a medium of memory and power. How do we see our money today? And what will its image be in the future?
ATTRIBUTE. SYMBOL. SIGN
The constitution, state flag, coat of arms, and anthem, along with the national currency, are important attributes of statehood – symbols that affirm independence and sovereignty. They create a unique image of the country in the world, shape identity, and unite citizens.
The Constitution of Ukraine defines the political system, citizens' rights, and the principles governing all branches of power; the flag symbolizes state sovereignty, the struggle for independence, and the unity of the country; the coat of arms embodies the historical heritage and spiritual foundations of the nation; the anthem expresses national pride and spirit. Alongside them is the hryvnia, which not only plays a crucial role in the economy of the country but also connects epochs.
The imagery system of the hryvnia is rich in symbols and is realized through the latest technological and design solutions. The national currency, conveying the spirit of the time and aspirations for change, firmly stands on a cultural foundation and demonstrates historical continuity.
As human rights activist and Nobel Peace Prize winner Oleksandra Matviichuk aptly noted, “We all stand on the shoulders of our predecessors.” We grow from the history of our own people. Collected in one space, state symbols vividly showcase the path of development and growth of the Ukrainian nation with its aspiration for freedom and sovereignty, carried through the ages to the longed-for independence.
“The image of the Cossack on guard conveys the essence of the historical mission of the Zaporizhian Cossacks – as protectors of the interests of the people, their glory, and valor.”
Vitalii Havrylenko, heraldist
FLAG
The State Flag of Ukraine is a banner consisting of two equal horizontal stripes of blue and yellow colors.
The colors of the flag derive from the hues of the coat of arms and flag of Danylo of Halych (Daniel of Galicia) and the Kingdom of Ruthenia from the 13th century—the golden lion on a blue background. Since the early 18th century, blue and yellow military flags prevailed in the Cossack army.
The modern blue-and-yellow flag first briefly waved over the Town Hall in Lviv on 25 June 1848. During the "Spring of Nations," the Rusyns of the Austro-Hungarian Empire chose it as their national symbol. In 1917–1921, it became the state flag of the Ukrainian People's Republic.
For long decades afterward, in the Soviet Union, even possessing a blue-and-yellow flag was considered a crime, punishable by up to two years of imprisonment.
The status of the State Flag of Ukraine was officially approved by a resolution of the Verkhovna Rada of Ukraine on 28 January 1992.
Ivan Svitlychnyi, SVITER Art Group
Medium Shot, 2021
Color video, sound, 00:06:45
Sound: _mediaklub
The focus of the video is the painting by artists Oleksii Kulakiv and Nataliia Papirna titled "State Formation," created as part of the celebrations for the 10th anniversary of Ukraine's independence (2001). Since then, the work has been housed in the Verkhovna Rada of Ukraine and is one of the recognizable features of its interior.
Painted in the traditions of academicism, this large, grandiose work metaphorically reveals the most important historical and cultural foundations of Ukrainian statehood. Not attempting to encapsulate the entire picture, its "close-up," the video authors concentrate on the context—the premises of the Verkhovna Rada—which in some way symbolizes the history of Ukraine.
The open inclusion of filming equipment in the visual frame creates tension within the shot – the authors emphasize the interpretative nature of history as a discipline, its changing narrative, which is renewed and rewritten with each new telling.
ANTHEM
In 1862, Kyiv ethnographer Pavlo Chubynskyi wrote the poem "Ukraine Has Not Yet Perished". He was inspired by a patriotic song performed by Serbian students at Kyiv's Saint Volodymyr University, heard at a home gathering. Researchers also believe that the author's work was influenced by motifs from the mazurka "Jeszcze Polska nie zginęła," which later became the Polish national anthem. The text by Pavlo Chubynskyi quickly gained popularity, and soon, the Russian Empire's authorities exiled the poet to the Arkhangelsk Governorate "for the harmful influence on the minds of the common people."
In 1863, the poem was published in the Lviv journal "Meta." Greek Catholic priest Mykhailo Verbytskyi composed music for it. The song immediately became popular among the people.
On 22 January 1918, the independence of the Ukrainian People's Republic was proclaimed, and the government approved "Ukraine Has Not Yet Perished" as the anthem of the newly established state.
On 24 August 1991, the day of the restoration of Ukrainian independence, the song was performed in the hall of parliament and was chosen as the state anthem of Ukraine. The official musical arrangement was adopted by the Verkhovna Rada on 15 January 1992, and the text was approved by the Law of Ukraine On the State Anthem of Ukraine on 6 March 2003.
Text for Video
The first recording of the song "Ukraine Has Not Yet Perished" was made by opera singer Modest Mentsinskyi in October 1910 under the Deutsche Grammophon label in Cologne, accompanied by an orchestra. In 1915, the singer re-recorded the piece in the United States at the Columbia Records studio.
(Musical illustration - recording from 1915)
https://uk.wikipedia.org/wiki/%D0%A4%D0%B0%D0%B9%D0%BB:Ukrainian_national_anthem_1916_(complete).ogg
Text for Video
The first public presentation of the song "Ukraine Has Not Yet Perished" after many years of Soviet repression is considered to be the performance on 24 September 1989, at the main stage of the Chervona Ruta festival in Chernivtsi. During this event, the banned anthem was performed acapella by festival Grand Prix winner Vasyl Zhdankin, joined by first-prize winners among singers Viktor Morozov and Eduard Drach.
(Video illustration)
Text for Video
The Ukrainian anthem was first played at the Olympic Games in February 1994 in Lillehammer, Norway, in celebration of figure skater Oksana Baiul's victory. The award ceremony was delayed for more than an hour because the organizers did not have a recording of the Ukrainian anthem and urgently searched for it among the members of the Ukrainian delegation.
Text for Video
Yurii Shevchenko "We Are!"
(Paraphrase of the National Anthem of Ukraine)
"Kyiv Camerata"
Conductor: Valerii Matiukhin
Soloist: Bohdana Pivnenko
Video: Oleh Pavliuchenkov
CONSTITUTION
The Constitution of Ukraine is the fundamental law of the state. It was adopted on 28 June 1996. Constitution Day is the only state holiday enshrined in the Constitution itself.
A historical precursor to the modern constitution can be considered the collection of laws from the time of Yaroslav the Wise known as "Ruska Pravda" (the 11th century). Historians refer to the "Treaties and Provisions of Rights and Liberties of the Zaporizhian Host" by hetman Pylyp Orlyk as the first written constitution, although there is debate about whether it can be considered a constitution in the modern sense. This document, drawn up in 1710 by the hetman in exile in the Moldovan city of Bender (after the defeat of Ivan Mazepa and Charles XII in the Battle of Poltava), is a significant monument to Ukrainian and world law. It never came fully into force due to unfavorable circumstances, although some of its provisions were in effect in Right-Bank Ukraine for several years.
The Constitution of the Ukrainian People's Republic was adopted by the Central Council on 29 April 1918, on the last day of its existence. However, this document did not come into force due to a coup that brought General-Lieutenant Pavlo Skoropadskyi to power.
During the Soviet period, Ukraine had four versions of the constitution, the last of which (from 1978) remained valid even after the proclamation of independence, until 1996.
PREAMBLE
The Verkhovna Rada of Ukraine, on behalf of the Ukrainian people – citizens of Ukraine of all nationalities, expressing the sovereign will of the people, relying on the centuries-old history of Ukrainian statehood and the rights to self-determination exercised by the Ukrainian nation and all Ukrainian people, caring for the provision of human rights and freedoms and dignified living conditions, striving to strengthen civil harmony on the land of Ukraine, and confirming the European identity of the Ukrainian people and the irreversibility of Ukraine's European and Euro-Atlantic course, aiming to develop and strengthen a democratic, social, legal state, aware of its responsibility before God, its own conscience, previous, present, and future generations, guided by the Act of Proclamation of Independence of Ukraine from 24 August 1991, endorsed by the nationwide vote on 1 December 1991, adopts this Constitution – the Fundamental Law of Ukraine.
Alevtina Kakhidze
For Children, about the Citizenship of People, Plants, and Animals, 2016–2018
Mixed media
In the autumn of 2016, Alevtina Kakhidze was invited to collaborate on a stand for patriotic education at a rural school, with the argument that every school should have such a stand due to recommendations from the Ministry of Education and Science of Ukraine regarding national and patriotic education. For almost a year, the artist developed her stand on patriotism: black-and-white drawings with questions that children could complete with their own answers or use hints. The artist named this work "For Children, about the Citizenship of People, Plants, and Animals." Currently, Kakhidze conducts performative dialogues with schoolchildren in the presence of teachers and parents in various parts of Ukraine, collecting children's drawings, comparing and analyzing their responses, and refining her stand.
THE EVOLUTION OF THE HRYVNIA
In the 20th century, Ukraine gained independence twice, and on both occasions, the government officially introduced a national currency. Both in 1918 and in 1996, the choice of name was unequivocal – the hryvnia.
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On 1 March 1918, the Central Council adopted the Law On the Monetary Unit, Minting Coins, and Printing State Credit Notes. The first hryvnia banknotes entered circulation on 6 April 1918.
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On 25 August 1996, President of Ukraine Leonid Kuchma issued a decree On Currency Reform in Ukraine. From 2 through16 September 1996, the hryvnia was introduced into circulation.
The Ukrainian hryvnia symbolizes the historical continuity of Ukrainian statehood and the legacy of generations. At the same time, it constantly evolves, keeping up with the times.
The 10-hryvnia banknote of 1918 created by artist Heorhii Narbut incorporated elements from baroque book engravings of the 17th century by the renowned master from the Kyiv Pechersk Lavra, Atanasii Kalnofoiskyi, as well as Narbut’s own rendition of the trident. In his typographic designs for this banknote, Narbut drew inspiration from the unique 16th-century artifact – the Peresopnytsia Gospel.
The 10hryvnia banknote of 1996, authored by Vasyl Lopata and Borys Maksymov, also features the Kyiv Pechersk Lavra: the Assumption Cathedral, one of Ukraine's main baroque masterpieces, along with the figure of Hetman Ivan Mazepa, who donated money for the cathedral’s beautification and restoration. This artistic concept of the banknote survived two technological generations, during which the color scheme changed and security features were enhanced, until in 2018, the 10 hryvnias became a coin with a portrait of the hetman on the reverse.
Ivan Mazepa is remembered in history as a fighter for Ukrainian statehood and independence. His legacy continues with modern Ukrainian defenders, whose valor is honored in a series of commemorative 10-hryvnia coins issued from 2018 to 2025.
"How shall we name our new Ukrainian monetary unit? We had only one our own, historical, state monetary system – this is the account in hryvnias, and I think that in creating our own monetary system at this time, it would be most natural to return to this old name..."
Mykhailo Hrushevskyi
Symbol – ₴
Currency Code (Alphabetical) – UAH
Currency Code (Numeric) – 980
Abbreviated Name – грн (in Ukrainian)
Issuing Institution – National Bank of Ukraine
"May the name of the glorious hetman Ivan Mazepa live forever with immortal glory in the memory of our people, for he sought to allow them to develop all their limitless possibilities in complete freedom. Let neither the army nor the people lose hope! Our cause is just, and a just cause always prevails."
Pylyp Orlyk
"I sought to find my artistic image of the hetman. I worked long and hard on the portrait of hetman Ivan Mazepa. Rejecting such alluring external attributes as armor, scepter, and feathered hat, I focused entirely on the face. I wanted to show the complex multifaceted nature of this extraordinary personality: wisdom and decisiveness, distrust, and condensed tragedy."
Vasyl Lopata
PRINTING AND SECURITY
If we slightly rephrase the quote from the iconic pop art founder Andy Warhol, “making money is art,” we can assert that creating money is true artistry. Banknotes have become the most widely produced and mass-appealed form of graphic art today.
However, behind their design, ornaments, and symbolic images lies adherence to an important condition—money must meet financial security standards. The production of currency exemplifies the use of modern technologies and innovations in the fight against potential counterfeiting.
The production of the hryvnia is a complex and intricate task. Each element of a banknote – special watermarks, microlettering, ultraviolet features – is part of a multilevel security system that ensures the authenticity of banknotes. In each new generation of the hryvnia, the experience of previous releases has been taken into account and the latest scientific developments integrated to counter new methods of counterfeiting.
The Ukrainian hryvnia embodies a synthesis of scientific advancements, technologies, and art.
"No one knew what technique to use for the sketches; there was no prior experience, consultants on the technology of making money, and so on. Thus, I experimented on my own, sought out and, most importantly, found ways to artistically solve the problem: engraving, watercolor, pencil drawing, quill pen, and..."
Vasyl Lopata (from an interview with news agency UNIAN)
PAPER
The life of the hryvnia begins with the creation of special security paper. A factory for its production was established in Ukraine in 1996. The paper is made from cotton, and for the 1,000-hryvnia banknote, flax is also added. The plant fibers are boiled, bleached, and ground. From the resulting pulp, along with water and chemical resins, liquid paper mass is produced. Then, using a system of centrifuges and rollers, this mass is formed into sheets of paper. This process is called calendering. It is at this stage that translucent watermarks and a security thread appear on the paper. Cut and packaged in stacks of 500 sheets, the paper is sent to the banknote factory.
TESTING
The paper for money undergoes critical stress during circulation: according to standards, a banknote must withstand 3,500 double folds. To test durability, the paper is examined in a laboratory where a special mechanism bends and straightens the banknote for 45 minutes.
PRINTING
All currency in Ukraine is printed at the Banknote and Minting Works of the National Bank of Ukraine. For each banknote several types of printing and different machines are used. The application of ink begins with offset printing. Then, a relief image is created using intaglio printing. This process requires high temperature and a printing plate made of strong nickel with engravings. Under a pressure of 80 tons and elevated temperature, the ink is transferred onto the paper. The wax-based ink is baked, forming raised lines that can be felt by touch.
SECURITY FEATURES
Today, the hryvnias of the fourth technological generation are in circulation. Each banknote has over 20 security features of various types. The oldest of these include the classic series, number, signature, and watermark. Later, security threads and relief printing with wax inks were introduced. In recent decades, optically variable features (shiny images that change color depending on the angle at which they are held up to the light), external "window" threads (partially embedded in the paper and partially exposed), and fluorescent features have been added.
The protection of banknotes against counterfeiting must be complex enough to be difficult to reproduce but easy to identify even by touch. This is why banknotes have different sizes and relief features: denomination, specific figures, and ribbed strokes on portraits.
WEAR AND TEAR
Paper banknotes wear out relatively quickly. Recently, approximately 640 million worn banknotes are withdrawn from circulation each year. Low-denomination banknotes (1, 2, 5, and 10 hryvnias) typically last up to a year in circulation, which is why in 2018, the NBU decided to replace them with corresponding coins that last much longer (20-25 years). Medium-denomination banknotes can remain in circulation for about three to five years. The longest-lasting are high-denomination banknotes (500 and 1000 hryvnias), which can last seven to eight years.
DISPOSAL
After verification at the National Bank of Ukraine, significantly worn and damaged banknotes are withdrawn from circulation and destroyed. During recounting, special machines automatically move worn banknotes to shredders, which shred them. This mass is then pressed into briquettes and disposed of as solid household waste— buried in a special landfill, which is less harmful than incineration. It is impossible to restore shredded banknotes, but they can be used in artistic projects.
Teresa Barabash
Money, 2025
Installation
This project explores money, its worth, and value, presented allegorically as a grand game where elements of the image are encrypted in giant pixels, resembling toy building blocks for constructing houses, puzzles, and sandboxes. In essence, the viewer immerses themselves in a space built from fragmented money and has the opportunity to interact with it, creating their own money "sandcastle" or other forms.
The work highlights the relationship between matter and time, prompting a reevaluation of our attitude toward the things we deem valuable. Having lost their original function, these objects can acquire new life within a new context, shaping new stories and meanings.
COUNTERFEATING
Counterfeiting has likely existed as long as money itself. Instances of counterfeit Ukrainian banknotes were recorded during the period of the Ukrainian People's Republic (UPR), when the first Ukrainian paper money was introduced. For example, the first Ukrainian banknote – a credit note with a denomination of 100 karbovanets – had only one series, "AD," and the number "185," and it was printed on regular paper without watermarks. This significantly simplified counterfeiting and led to the appearance of numerous forgeries. There were also cases of the counterfeiting of change stamps – shahs.
Today, the security features of the hryvnia meet the standards of leading currencies in the world, such as the euro or the U.S. dollar. The hryvnia incorporates over 20 security features, including watermarks, relief printing, security threads, microlettering, and optically variable inks/features. Continuous improvement of security features enables a robust response to counterfeiters and helps maintain trust in the national currency.
Despite the challenges posed by russia's full-scale war against Ukraine, the rate of counterfeiting of the hryvnia remains controllable. In 2024, there were approximately 5.1 counterfeit banknotes for every 1 million genuine banknotes, which is lower than the 7.1 recorded in 2021. In comparison, the same rate in EU countries in 2024 was more than three times higher—18 counterfeit euro banknotes per 1 million genuine ones.
ANTIQUITY
The history of currency circulation on the lands of modern Ukraine began in the Greek colonies of the Northern Black Sea region. In the city of Olbia in the 6th century BC, copper dolphins were cast, serving as temple offerings to Apollo Delphinius and as small change. The cities of Tyra, Chersonesus, and Theodosia, as well as the great Bosporan Kingdom on the Kerch Peninsula, minted their own coins from the 5th century BC to the 3rd century AD.
Project by Oleksandr Sukholit "The Golden Calf"
First presented in 1994 at the Karas Gallery, Oleksandr Sukholit's project has since become a distinctive field for artistic exploration of the nature of money. The artist does not perceive money merely as a medium of exchange – his coins embody memory and heritage, reflecting how material values absorb the history of generations. From archaic cults to modern economics, from biblical idols to personal mythology, Sukholit's quest leads us to understand that the true value lies not in the metal itself, but in what is engraved in our consciousness.
Kateryna Tsyhykalo
KYIV RUS
In the Middle Ages, the state of Kyiv Rus emerged on Ukrainian lands. The cities of Kyiv, Chernihiv, and Pereiaslav became significant centers of trade and administration. Initially, Byzantine and Arab caliphate coins were in circulation here. By the end of the 10th century, however, Kyiv began minting its own currency – sriblianyks and zlatnyks. The first coins featured the image of Christ the Almighty on one side and one of the few verified lifetime portraits of Prince Volodymyr the Great, along with the princely sign – the trident – to the left, which was destined to become the state symbol of Ukraine many centuries later.
These silver and gold coins showcased the political and economic power of Kyiv Rus to the world. The Kyiv zlatnyks were modeled after Byzantine solidi from the second half of the 10th century, while the sriblianyks resembled the dirham of the Arab Caliphate.
The coins of Volodymyr the Great (978–1015) depicted the grand prince seated on a throne on the obverse, with the legend "Volodymyr on the throne." On the reverse, the trident, the dynastic mark of the Kyiv princes of the Rurik dynasty, was depicted, along with the legend "And this is his gold" or "And this is his silver." The coins of Sviatopolk I Vladimirovich (circa 975–1019) featured St. Peter on the reverse, while those of Yaroslav the Wise (1019–1054) displayed St. George.
Zlatnyks are exceedingly rare coins, with two belonging to the collections of Ukrainian museums.
About Ivan-Valentyn Zadorozhnyi
In the 1980s, Ivan-Valentin Zadorozhny – a Ukrainian monumental artist and representative of the Sixtiers movement – illustrated children's books. One of the first works he illustrated was the Ukrainian folk tale "Kyrylo Kozhumiaka," a story about Kyiv and a hero who protects the city and its inhabitants. The plot, images, and symbols of the tale resonate remarkably with contemporary realities: both then and now, Ukraine and Kyiv fight against the oppressive serpent.
The uniqueness of this edition lies in its handwritten text, stylistically reminiscent of the Cyrillic script from the 11th-13th centuries (Ustav). The texts are adorned with ornamental motifs, while the illustrations are inspired by images from ancient Ukrainian manuscripts and frescoes.
About Lyudmila Semykina
Lyudmila Semykina, a participant in the Suchasnyk Club of Creative Youth and an associate of Alla Horska, created a monumental triptych titled "Legend of Kyiv" in 1966 for an exhibition called "Historical Kyiv," which ultimately never took place. During this time, the artist drew inspiration from Ukrainian history, referencing the culture of the Scythians and Rusyns. In addition to painting, she also designed costumes for stage and theater. The artist recalled that her "studio secretly transformed into a headquarters for princely garments."
The perfectly dressed figures in the triptych represent the legendary founders of Kyiv: Kyi, Shchek, Khoriv, and Lybid. In the central section, Kyi appears in a fantastical image of a warrior adorned in chainmail, a princely hat, and a decorated cloak, while Lybid is depicted in profile with a lily flower in her palm. To the left is Khoriv wearing a forelock, and to the right is Shchek, set against a backdrop of stylized Varangian boats, emphasizing Kyiv's connection with ancient history.
A distinctive artistic approach used by Lyudmila Semykina involves framing the triptych, which seemingly crops parts of the figures. This adds monumentality to the images: it seems the canvas cannot contain the heroes' images. As a result, the painting gains dynamism and depth, underscoring the grandeur and timelessness of the Kyiv legend.
The Hryvnia
The hryvnia is a weight standard and coin of Kyiv Rus. Since the 8th century, the hryvnia has been used as a unit of account. In the 10th century, silver ingots known as hryvnias also became widely used. Each hexagonal ingot of the Kyiv type contained about 160 grams of silver and served for large payments. Hryvnias are frequently found in archaeological excavations, and their quantity in circulation at that time could be measured in dozens or even hundreds of tons.
Several types of hryvnias were named after the place of their first discovery by archaeologists: Chernihiv, Novgorod, Kyiv, Tatar (or Saum), and Galician. The form of the Kyiv-type hryvnia is now the logo of the National Bank of Ukraine.
Kyiv-type hryvnias were discovered on lands stretching from the Desna River in the east to Volyn in the west. Hryvnias were produced in Kyiv until the city was besieged by Batu Khan in 1240.
Hryvnias also referred to neck ornaments of a special shape made from a solid piece of metal, consistent with the weight standard of the Byzantine litra at 160 grams, which linked the name of the coins with women's jewelry.
At the beginning of the 14th century, new currency units began to appear in written sources, such as "ruble." The ruble was part of a cut weight hryvnia, similarly to poltinas and chverty. Many coin-weight ingots of the hryvnia bore notches and special stamps that confirmed their weight and quality of silver.
Plinth with the Trident from the Tithe Church in Kyiv
The Tithe Church is the first stone church in Kyiv. For the construction of the capital’s main church after the baptism of Kyiv Rus, Prince Volodymyr the Great allocated a tenth of the revenues – a tithe, from which the name of the church is derived.
Majestic for its time and richly adorned, the church was decorated with frescoes and mosaics, and it featured intricately carved marble and slate slabs, while the precious church vessels were brought by the prince from Chersonesus Taurica.
The Tithe Church became the burial place of the princely family and, in 1240, the site of the last stand of Kyiv's defenders against the horde of Batu Khan. The walls of the church fell under the strikes of Mongolian battering rams.
A few bricks from the Tithe Church were laid on 31 July 1837 in the foundation of the red building of the Kyiv Saint Volodymyr University – symbolizing the connection between the newly established educational institution and the enlightening legacy of Prince Volodymyr the Great, the baptizer of Rus.
ABOUT THE COAT OF ARMS
“The symbol of the Kyiv State from the times of Volodymyr the Great will be the coat of arms of the Ukrainian People's Republic " – this was approved at a meeting of the Minor Council that took place in Korosten on 25 (12) February 1918. Since then, the trident – a symbol that appeared on the coins of Prince Volodymyr the Great – has been the national coat of arms of Ukraine.
The artist and architect Vasyl Krychevskyi, at the request of the chairman of the Central Council Mykhailo Hrushevskyi, created drawings of various options for the state coat of arms and seals. The artist's designs were submitted for approval to the Central Council on 22 March 1918. As a result, the princely trident appeared on Ukrainian money, stamps, seals, and various documents of that time.
Under Hetman Pavlo Skoropadskyi, who led the Ukrainian State from 29 April to 14 December 1918, the idea arose to base the coat of arms on the image of a Cossack with a musket – a symbol of the Zaporozhian Army in the 16th to the 18th centuries. The artist Heorhii Narbut created drawings of the state coat of arms and seals with this image. He placed the trident in a crest. However, Narbut's designs were not officially legalized in time. Therefore, when the Directorate came to power and the Ukrainian People's Republic was restored, only the trident remained as its coat of arms.
On 19 February 1992, the golden trident on a blue shield was approved by the Verkhovna Rada as the small state coat of arms of modern Ukraine. At that time, its standard images – graphic and color, as well as precise measurements – were also legalized. Today, the ancient sign of Volodymyr the Great – graphically beautiful, concise, and unique – is one of the important and recognizable symbols of Ukraine in the world.
Bohdan Zavitii
THE MIDDLE AGES
The Grand Duchy of Lithuania, Ruthenia, and Samogitia in the 14th century was a federation of autonomous principalities governed by descendants of the ancient Rurik and Gediminas families. Among them were, in particular, the Kyiv Principality under Volodymyr Olherdovych, the Čhernihiv-Siversk Principality under Dmytro-Korybut Olherdovych, the Volyn Principality governed by Fedir Liubartovych and Liubart Gediminas, the Duchy of Belz headed by Yurii Narymuntovych, as well as the Duchy of Podolia led by Kostiantyn and Yurii Koriiatovych.
The lands of Rus in the Lithuanian state held such a strong political and cultural influence that they were separately noted in the official name of the Grand Duchy, and the code of laws – the Lithuanian Statutes – was written in the Rus language. Perhaps we should reconsider the degree of autonomy of the principalities on Ukrainian territory at that time. Their statehood status is evidenced by the minting of their own coins.
ABOUT COINS
In Volyn, Prince Liubart minted silver denarii in the 14th century featuring an image of a cross and a lion. These circulated in the territories of modern Lutsk and Volodymyr districts.
At that time, the head of the Duchy of Podolia, Kostiantyn Koriiatovych, had his own mint in Smotrych. His coins were long mistakenly thought to be Hungarian, but coins discovered with completely preserved inscriptions confirmed their local origin. They were equivalent to half a Prague grosz.
In Red Ruthenia (Galicia), from the mid-14th century, the Lviv groshyk was minted featuring the coat of arms of Galicia and labeled MONETA RVSSIE, or MONETA LEMBURG.
The Prague grosz, the most common European coin of the Late Middle Ages, actively circulated in Ukrainian lands, particularly around Kyiv and in the Dnipro region. The overstrikes on it indicate close trade links with Southern Germany, as well as the German cities' aspirations to form currency unions.
In the 17th century, coin minting was resumed in Lviv. The Lviv Mint (1656–1658, 1660–1663) produced pіvtoraks, six-grosz pieces, orts, tympfs, ducats, double ducats, and thalers for circulation in the Polish-Lithuanian Commonwealth.
THE CRIMEAN KHANATE
The akche was a silver coin minted in the Crimean Khanate during the reign of the first khan Hacı I Giray (1427–1456, 1456–1466) and his descendants Nur Devlet Giray, Mengli I Giray at the mint in the city of Kirk-Yer (now Chufut-Kale near Bakhchysarai) and Kaffa (now Feodosia). The akche typically had a characteristic irregular shape, due to the technology of coin minting from silver wire, and featured the family coat of arms of the Giray dynasty – the tamga.
These coins were widespread not only in Crimea. Archaeologists have found them in hoards or as individual finds in Podolia and the Dnipro region up to Kyiv and even further north. The migration of money was primarily associated with trade – grain, furs, honey, wax, arrows with eagle feathers, sickles, and knives traveled from Kyiv to Crimea. Another route for the flow of Crimean money northward was the Tatar raids on the territories of Kyiv in the 15th to 16th centuries, including the attack on Kyiv by Khan Mengli I Giray in the fall of 1482.
THE ERA OF THE HETMANATE
It has turned out that in virtually every period of Ukrainian national unity, the hryvnia has played a significant role, except for one of the brightest periods – the era of the Cossack state.
The Cossack period is defining in Ukrainian history. In religious polemics and armed struggles, in classrooms of brotherly schools, in the halls of noble palaces, in luxurious monastery cathedrals, in steppe palankas (settlements with a small fortification and a Cossack outpost, and on Cossack sabers, the Ukrainian spirit was forged.
A state was being born. But it didn't fully come to fruition. Therefore, the establishment of the hryvnia in the form of metal coins did not come about.
The Cossacks did not mint their own money, except for two mysterious and unproven cases – coins attributed to Bohdan Khmelnytskyi and Petro Doroshenko mentioned in the sources of that time.
There are several documentary pieces of evidence that Bohdan Khmelnytskyi issued his own coins. The first is a report by the Moscow ambassador deacon Hryhorii Kunakov from 1649. After his visit to the Cossack lands, he noted: “Khmelnytskyi has established a ‘minza’, and they are making money” (note: "minza" refers to a mint). On one side of these coins, a sword was allegedly depicted, and on the other, the name Bohdan Khmelnytskyi.
The second piece of evidence is a letter from the Podolian voivode Stanislav Potocki to Polish King Jan Kazimierz dated 29 October 1652. Potocki reproaches Khmelnytskyi for interfering in Polish state affairs by minting coins. On 21 December 1652, the newspaper Gazette de France also reported that "the Cossack hetman began minting his own coins in Ukraine, which provoked a protest from the Polish king." Recently, minutes from a meeting of the State Council of the Scandinavian kings (Riksråd) dated 7 June 1649, were discovered in a Swedish archive, mentioning the minting of coins by Khmelnytskyi. However, the coins themselves have yet to be found.
There is a hypothesis about coin minting ordered by Hetman Petro Doroshenko. It is likely that the mint was located in the town of Lysiantsi in Cherkasy oblast, where imitations of the szóstak coins from the model of 1660 were minted. Was this legal? No. Were these coins forgeries? Not necessarily, as they contained the required amount of precious metal.
ABOUT HALYNA SEVRUK
Halyna Sevruk belonged to the generation of the Sixtiers – a group of artists and intellectuals who fought to preserve Ukrainian culture under the Soviet regime. A central theme of her work revolves around historical and mythological images from the times of Rus and the Cossack period.
At the beginning of her artistic journey, the artist was fortunate to join the Experimental Workshop of Artistic Ceramics (the workshop-laboratory of Nina Fedorova, also known as the "Sofia Pottery"). It was here that Sevruk began creating ceramic plates, combining low relief and colored glazes, which became a fundamental artistic method in her work.
“Clay is an extraordinarily noble material. It requires a great deal of concentration from the artist – a kind of asceticism, as you dream only of images that demand restraint and tension, to gather your knowledge, thoughts, and focus on the image, discarding everything superfluous, unimportant, leaving only the essentials and most significant, and accentuating this through artistic means.”
MAZEPA THE BENEFACTOR
Hetman Ivan Mazepa was the most generous patron in Ukrainian history. During his rule, over 200 churches were built, the construction of 45 of which he personally financed. These masterpieces are what we have come to know as Ukrainian Baroque.
With Mazepa's funding, the St. Sophia, St. Michael, and Assumption Cathedrals were reconstructed, along with St. Cyril's Church and the Trinity Church in Kyiv, and the Boris and Gleb Cathedral in Chernihiv; the Kyiv Pechersk Lavra was surrounded by a defensive wall, and a bell tower was erected near St. Sophia Cathedral.
With Ivan Mazepa's money, the St. Nicholas Cathedral was built in Kyiv on Pechersk and the Epiphany Cathedral on Podil, as well as new buildings for the Kyiv-Mohyla Academy. Thanks to the hetman, a collegiate house appeared in Chernihiv, and new cathedrals were erected in Pereiaslav, Hluhiv, Lubny, and Baturyn.
Mazepa did not leave us any coins of his own minting; however, in memory of him, we have the unique silver royal gates of the Boris and Gleb Cathedral in Chernihiv and the largest of the ancient church bells in Ukraine – the Mazepa bell on the tower of St. Sophia Cathedral in Kyiv.
TEXT ABOUT THE AGENCY FOR STATE PAPER PREPARATIONS
In June 1917, the First Universal of the Ukrainian Central Council proclaimed Ukrainian autonomy, and on 22 January 1918, the Fourth Universal confirmed Ukraine's independence. The Ukrainian People's Republic appeared on the political map.
At the end of 1917, the government of the republic decided to introduce a Ukrainian monetary unit. To facilitate its production, as well as the production of other state papers, including postage stamps, state coats of arms, and seals, the Agency for State Paper Preparations was established. This organization operated throughout the entire period of the national liberation struggle from 1917 to 1921, initially subordinated to the government of the Ukrainian state led by Hetman Pavlo Skoropadskyi, and later to the Directorate of the Ukrainian People's Republic.
The production of state papers was preceded by competitions for their designs, with decisions made by a special commission at the Ministry of Finance. Prominent Ukrainian artists participated in the development of design projects. They included Heorhii Narbut, Vasyl Krychevskyi, Oleksandr Bohomazov, Mykhailo Boichuk, Sofia Nalepinska-Boichuk, Ivan Mozalevskyi, Anton Sereda, Hryhorii Zolotov, and Mykola Kasperovych. In total, 23 designs for the state banknotes were approved, most of which were developed by Heorhii Narbut.
QUOTES ABOUT SHAHS
Ivan Kotliarevskyi, "Eneida," 1798
" Aeneas gave 12 shahs
For good learning. "
Ivan Nechui-Levytskyi, "The Kaidash Family," 1878
"'Oh, my God! I did not take anything for the children. Here, at least each get a shah.' The Kaidash woman pulled out a handkerchief from her bosom, untied the knot, and distributed a shah each."
Taras Shevchenko, "Kateryna," 1840
"She takes a shah, almost trembling:
It’s hard to take it!..
But why?.. And the child?
She is his mother!"
Taras Shevchenko, "The Witch," 1847
"She had twins in Bendery…
Without incense, without holy water,
Baptized them for three shahs,
And drank three shahs away."
Taras Shevchenko, "The Blind Man," 1845
"And the fortune-teller cast spells,
To cure the evil eye,
Fate and fortune for three shahs
She poured from wax."
SHAHS – CHANGE STAMPS AND THEIR DENOMINATIONS
On 1 March 1918, the Central Council approved the Law On the Monetary Unit, Coinage, and the Printing of State Bills of Credit, confirming the introduction of a new currency – the hryvnia. It was divided into 100 shahs, and change stamps with denominations of 10, 20, 30, and 40, and 50 shah coins were issued into circulation.
Additionally, due to a significant shortage of smaller denomination money, cut-out coupons from 3.6% treasury bills were used as monetary surrogates: 90 shahs from a 50-hryvnia bond, 1 hryvnia and 80 shahs from a 100-hryvnia bond, and 3 hryvnias and 60 shahs from a 200-hryvnia bond.
The change stamps with denominations from 10 to 50 shahs of the Ukrainian People's Republic were a special type of paper money that served as change currency. This form of money became an effective solution to overcome the crisis of a lack of money of small denominations, which is often characteristic of wartime.
To quickly produce a sufficient quantity of these "emergency" monetary units, a technology similar to the production of postal and fiscal stamps was used — typographic printing with perforation, allowing for a rapid saturation of the monetary market with small means of payment.
Officially, it was not recommended to affix them to postal envelopes; for that purpose, designated postal stamps with a similar design were made from thin paper and mostly without perforation. The design of the shahs was developed by Heorhii Narbut and Anton Sereda. The front displays the trident in a rich ornamental wreath. On the back, the text reads: "It circulates on an equal footing with sound coin."
The small change stamps denominated in shahs were produced using the same obverse designs as the postal stamps, with the image of the trident and the same inscription in four lines on the reverse: "It circulates / on an equal footing / with sound / coin" within a single linear rectangle. The presence of the indication on the back regarding the equivalence of these bills to circulating coins essentially defines them as money.
SHAH - Text by Bezpalko + Change Money
The shah is a folk term for change money that has been used since the early 17th century in the regions of Dnipro Ukraine and in the lands of Cossack administration, including Sloboda Ukraine. Initially, a shah referred to a Polish coin with a denomination of three grosz and a unit of counting small coins of the same amount. Ten shahs equaled one gold coin, which formed the basis of the original Ukrainian financial "counting" system of the Hetmanate. The Cossacks accepted money from various countries, and later, in the 18th century, the name "shah" became associated with 2 kopiikas, as three Polish grosz were equivalent to two Moscow kopiikas a century earlier.
By the 19th century, the term "shah" had become deeply rooted in Ukrainian language and culture to denote a coin worth half a kopiika. In 1917, there was a discussion regarding the name of the currency unit of the Ukrainian People's Republic; however, the government unhesitatingly approved the shah as change. Thus, the coin with its folk name became one of the symbols of the state and gained the status of a new currency that represented Ukraine even abroad.
Vladyslav Bezpalko
The1660s to the 1680s, coins with the equivalent value of three Polish grosz
Polish-Lithuanian 3 grosz coins
Two coins, each worth 1.5 grosz
Two Moscow kopecks
Three Polish and three Lithuanian 1-grosz coins
Ten Baltic 1-szeląg coins
18th century. The term “shah” starts to apply to 2 russian kopecks
Shahovyk coins
19th century after 1839. The term “shah” starts to mean any ½ kopiika coin
Shah/shazhok coins
6-shah coin
THE START OF THE SOVIET UNION: RATION CARDS
The building of communism proclaimed in the Soviet Union was the largest and harshest social experiment. In the "perfect system," money was unnecessary because there was nothing to buy.
Scarcity, shortage, and hunger were hallmarks of the Soviet era, constant companions of the totalitarian regime. Goods were always in short supply, especially food. The food shortages of the 1920s to 1940s, and later in the late 1980s to early 1990s, were a source of continuous social tension. Throughout the 20th century, this was exacerbated by the prohibition of free trade and the winding down of the New Economic Policy (NEP), several waves of artificial famine that exterminated millions of Ukrainians, World War II, and post-war poverty. During all this time, ration cards were in effect. Bread, flour, butter, sugar, meat, and other goods could only be purchased with coupons, in regulated amounts per person. The mere possession of a card did not guarantee that its holder would be able to buy what they wanted.
Kilometer-long lines that formed before dawn and empty shelves were a common sight in Soviet-era stores. During this time, the term "to obtain goods that are in short supply" emerged. The shortage of goods encouraged the entrenchment and normalization of corruption — an affliction the consequences of which we still feel today, even in times of independence.
GERMAN OCCUPATION MONEY
World War II brought occupation to Ukraine and changes to its monetary system. In addition to Soviet rubles, occupation German banknotes entered circulation: Karbovanets banknotes of the Central Emission Bank of the Reichskommissariat Ukraine, banknotes of the Wehrmacht, and Reich notes of credit.
On 20 August 1941, the Nazi authorities established the Reichskommissariat Ukraine with its administrative center in Rivne. On 5 March 1942, the Central Emission Bank was set up to control monetary circulation, introducing the karbovanets as the main currency. Soviet coins and banknotes of up to three rubles temporarily retained their payment power, while all others were subject to withdrawal and exchange. From 25 July 1942, wages in the occupied territories were paid exclusively in the new karbovanets. The so-called "Greater German money" (Reichsmarks) was prohibited in Ukraine.
The introduction of the occupation currency aimed to subordinate Ukraine's economy to the interests of the Third Reich and to weaken the influence of the Soviet financial system.
DISSIDENTS
The generation of Sixtiers artists experienced severe ideological pressure and political repression. However, despite this, they not only created art, but also actively supported those who were persecuted for their views. They morally and materially supported the families of political prisoners, corresponded with them, attended trials, and organized fundraising events to help the families of the convicted.
One of the centers for such activities was the renowned Kyiv workshop on Akademika Filatova Street, where Alla Horska, Viktor Zaretskyi, Liudmyla Semykina, Ada Rybachuk, and Volodymyr Melnychenko worked. It was here that charity auctions took place, where art pieces, handmade souvenirs, and other items were sold to raise funds for the support of the repressed.
CUT-OUT COUPONS
By the early 1990s, the USSR was on the verge of crisis. It was time for the hope of change and the birth of freedom. The empire ceased to be a machine of terror, but fear had not disappeared: the trauma of previous decades was compounded by anxiety over an uncertain future and the impending collapse of the economy.
In November 1990, to combat the general shortage of goods, an ersatz currency was introduced — single-use cut-out coupons. They were printed on A4 sheets with watermarks or even without them, certified by the stamp of a factory, office, or post office. The coupons were not a standalone means of payment, so the buyer had to pay in Soviet rubles at the store and additionally instruct the seller to cut out coupons from the sheet for the necessary amount — that is, the coupons provided the right to spend money.
Another reason for implementing the coupon system could have been an attempt to protect Ukraine's financial market from depreciated ruble cash that flooded in after the Baltic countries proclaimed independence.
The coupons existed between 1990 and 1991. They were intended to patch the holes in the old system. However, they became harbingers of change and even passed their name to the transitional currency of independent Ukraine.
COUPON-KARBOVANETS
The transition of independent Ukraine to its own monetary system was gradual and challenging. Starting on 10 January 1992, a new currency – the Ukrainian karbovanets in the form of reusable coupons – was introduced into circulation. For nearly a year, these coupons circulated alongside Soviet rubles. The new money could be used for all purchases, while rubles were only accepted for non-food goods and services. Consequently, a portion of wages was paid in coupon-karbovanets, while the remainder was issued in rubles. On 12 November 1992, the circulation of rubles in Ukraine was officially discontinued. The coupon-karbovanets became the sole means of payment in the state.
The transitional currency bore the brunt of the economic restructuring. In 1992, the inflation rate exceeded 2,000%, while in 1993, it reached a staggering 10,256%. As a result, banknotes of 1, 2, 5, and even 100 and 500 karbovanets were gradually phased out of circulation. Instead, a single banknote of a million was introduced, and there was even a project for a 2 million karbovanets note reserved.
Initially, the coupons were printed abroad, but from 1994 onwards, they began to be printed in Kyiv. They were expected to circulate for a period of 4 to 6 months. Due to its temporary status, the coupon-karbovanets were of low quality; however, they had some security features, such as watermarks, fluorescent inks, and a ribbon with microlettering saying "Ukraine."
THE MODERN HRYVNIA
On 25 August 1996, President Leonid Kuchma issued a decree On Monetary Reform in Ukraine. The reform took place from 2 to 16 September 1996, and from 17 September 1996, the country fully transitioned to the new currency. On the very first day, all prices, salaries, pensions, scholarships, and money held in accounts were converted to hryvnias. Ukrainian karbovanets were exchanged without restrictions and confiscations at a rate of 100,000 coupon-karbovanets to 1 hryvnia. A broken connection in the history of Ukrainian money was thus restored.
COMPETITIONS
The hryvnia was introduced into circulation in 1996. However, preparations for the monetary reform began much earlier.
On 14 November 1991, the Presidium of the Verkhovna Rada adopted a resolution On the National Currency in Ukraine. The hryvnia was scheduled to be introduced in the first half of 1992, so work progressed at an accelerated pace.
Interestingly, the competition to develop the design for the future Ukrainian currency began even before Ukraine gained independence — as early as April 1991. The creative team included Ukrainian artists Volodymyr Yurchyshyn, Serhii Yakutovych, and Vasyl Lopata. In the turmoil of the 1990s, the sketches submitted by these artists for the competition were lost; these designs are neither in archives nor in museum collections. Today, we only know about the works of graphic artist Vasyl Lopata and designer Borys Maksymov – their versions became the first Ukrainian hryvnias.
An intriguing find in the current exhibition is the sketches of banknotes by the Lviv artist Myron Yatsiv.
QUOTE
“I worked on the images depicted on the hryvnias, and this is the most important detail. I wanted our money to reflect national identity. But no one knew how to do it. It’s a complex and expensive task. Money is one of the symbols of statehood, alongside the flag, anthem, and coat of arms. It represents Ukraine on the international stage.
... I wanted it to feature national symbols – our heroes, and on the back of the notes I wanted to see an architectural scene that is in some way connected to the life of the hero, all adorned with Ukrainian ornaments. So that a person who first held our hryvnia and knew nothing about Ukraine could still recognize something from a single banknote."
Vasyl Lopata (from an interview with Ukrainian news agency UNIAN)
DELIVERY OF THE HRYVNIA
In the early 1990s, Ukraine did not have its own printing works for banknotes, so it ordered them from abroad – in Canada and Britain.
The first series of banknotes in denominations of 1–20 hryvnias were produced by the Canadian Bank Note Company Limited, while the 50, 100, and 200-hryvnia banknotes were produced by the UK’s Thomas De La Rue Company Limited (the printing itself took place in Malta). The delivery of money was a secret operation: on 19 August 1992, the ship "Petr Aleinikov" departed from the port of Illichivsk to Montreal, carrying security service3 agents disguised as sailors on board. In Malta, 23 additional containers of money were added to the 105 containers from Ottawa.
On 2 October 1992, the ship arrived at Oktiabrskyi Port near Mykolaiv. In total, from 1992 to 1993, hryvnias were delivered in two sea shipments, while a third batch was transported by air.
BANKNOTES AND COINS IN CIRCULATION
Currently, banknotes of the third and fourth technological generations, as well as coins in denominations of 10, 50 kopiikas and 1, 2, 5, and 10-hryvnia coins from all years of minting are circulating in Ukraine. Whenever a new technological generation of banknotes is finalized, the NBU starts to develop the design and security features of the next generation banknotes and coins.
Today, the most circulated banknote is the 500-hryvnia note, which makes up 27% of all cash in circulation.
Yuliana Alimova
“My Hryvnia,” 2023
AR, VR
“How much is a hryvnia?” – a project in augmented reality, part of the artist’s Art-Conversion project.
It all began with an almost rhetorical question – where does the artist get money? Maybe they paint it? I decided to paint as much money as I need and live on it for a while, exchanging it with people for real money at a one-to-one rate.
The project raises questions about the relationship between the artist and money, the artistic value of artworks, their worth in money, as well as the subjectivity of assessing works by viewers, buyers, artists, collectors, critics, and so on.
To the question "What is the price of the hryvnia?" that I receive regarding these works, I answer: "One to one."
AR media allowed me, as an artist, to metaphorically delve into the viewer's pocket, but not to take something from it, but rather to put my works in there and give a reason to think about the modern Ukrainian money that we carry about with us all the time.
With augmented reality, each viewer automatically becomes an owner of the artwork and always has access to it. The 3D graphic mini-sculptures featuring portraits of the individuals depicted on banknotes of various denominations were created in virtual reality and can be viewed using a smartphone.
Nil Khasevych
Nil Khasevych was the most renowned designer of bоfons (short for battle fund) for the Ukrainian Insurgent Army (UIA). Essentially, bоfons functioned as a type of receipts. Authorized representatives on behalf of the OUN (Organization of Ukrainian Nationalists) or UIA issued them to people in exchange for voluntarily donations of cash, food, clothing, or anything else necessary for the underground struggle.
While serving in the UIA, Nіl Khasevych created the designs for the most famous series of bоfons – the Volyn series. This series included denominations of 5, 10, 20, 50, 100, 300, 500, and 1,000 karbovanets. In the underground, Nіl Khasevych effectively founded his own art school, where the graphics of his students adorned a significant portion of the insurgent publications from the late 1940s to the early 1950s.
“In my life, I have already lost everything, but as long as there is at least one drop of my blood left, I will fight against the enemies of my people. I cannot fight with weapons, but I fight with a Stanley knife and a chisel. I, a disabled person, fight at a time when many strong and healthy people in the world do not even believe that such a struggle is possible. I want the world to know that the liberation struggle continues, that Ukrainians are fighting... Glory to Ukraine!”
Nіl Khasevych
Pictoric
The project of the Pictoric Illustrator Club, titled "Even in Dark Times, There is Light," tells the stories of individuals who, during the full-scale invasion, showed bravery and love for their country and became true heroes.
The project features 100 stories: software engineers create applications that assist people in danger, journalists quickly cover events, drivers deliver food to the most remote areas, pharmacists go to work, volunteers rescue pets, managers coordinate extremely complex communications, and more. Each hero invests their time, skills, and money for the common future.
Austrian Empire
Throughout the 19th century, most Ukrainian lands were divided among empires – the Austrian (later Austro-Hungarian), Russian, and Ottoman Empires. Consequently, there were no coins minted in Ukraine.
In Halych (Galicia), Bukovyna, and Zakarpattia, Austrian crowns and guldens were in circulation. Notably, on the banknotes of the disparate Austrian Empire, there was space for legends in various languages, including Ukrainian.
In the Austro-Hungarian Empire, special mintages were produced for Halych (Galicia) and Lodomeria, whereas the Russian Empire did not even plan to mint coins for Ukraine at all.
Russian Empire
While the Austrian Empire officially abolished serfdom in 1782, the Russian Empire only introduced it to Ukrainian lands in 1783. According to Empress Catherine II's decree, peasants were completely deprived of the right to change their place of residence. Landowners could sell serfs, exchange them for property, separate husbands from wives, and parents from children – everything except kill them.
Since the colony was primarily a resource for the metropolis, everything had a monetary value, even human life. For instance, the freedom of the Ukrainian genius Taras Shevchenko, then a serf but already a quite well-known artist, was appraised at 2,500 rubles in assignations in 1838. This amount was equivalent to 45 kg of pure silver at the time.
The Agency for State Paper Preparations
In June 1917, the First Universal of the Ukrainian Central Council proclaimed Ukrainian autonomy, and on 22 January 1918, the Fourth Universal confirmed Ukraine's independence. The Ukrainian People's Republic appeared on the political map.
At the end of 1917, the government of the republic decided to introduce a Ukrainian monetary unit. To facilitate its production, as well as the production of other state papers, including postage stamps, state coats of arms, and seals, the Agency for State Paper Preparations was established. This organization operated throughout the entire period of the national liberation struggle from 1917 to 1921, initially subordinated to the government of the Ukrainian state led by Hetman Pavlo Skoropadskyi, and later to the Directorate of the Ukrainian People's Republic.
The production of state papers was preceded by competitions for their designs, with decisions made by a special commission at the Ministry of Finance. Prominent Ukrainian artists participated in the development of design projects. They included Heorhii Narbut, Vasyl Krychevskyi, Oleksandr Bohomazov, Mykhailo Boichuk, Sofia Nalepinska-Boichuk, Ivan Mozalevskyi, Anton Sereda, Hryhorii Zolotov, and Mykola Kasperovych. In total, 23 designs for the state banknotes were approved, most of which were developed by Heorhii Narbut.
Archive of the Agency
Although all designs for state papers, sketches, and documents from the agency were preserved during the Ukrainian liberation struggle, their fate turned out to be extremely dramatic later on. Part of the archive was transported to Tarnów, where the government of the Ukrainian People's Republic was in exile. Later, in 1928, artist and art historian Pavlo Kovzhun transferred the materials to the Taras Shevchenko Scientific Society Museum in Lviv. This part of the agency's archive was presented at the famous exhibition "Modern Ukrainian Graphics" (1932), a separate section of which was titled "Narbut and the Agency for State Paper Preparations of Ukraine."
After World War II, the agency's archive, preserved in the Taras Shevchenko Scientific Society Museum, became part of the collection of the State Museum of Ukrainian Art in Lviv. Following an order from Soviet officials in 1952, under the supervision of the deputy director of the State Museum of Ukrainian Art, Vasyl Liubchyk, the archive was burned in the furnace of the Vasyl Stefanyk Scientific Library. Along with these documents, the so-called museum special exhibits were destroyed, which largely consisted of works by Ukrainian artists from the first half of the 20th century that had been branded as "nationalist and anti-Soviet."
During the times of independent Ukraine, researcher and chief custodian at the Andrii Sheptytskyi National Museum in Lviv, Danuta Posatska, took interest in the fate of the special exhibits. In 1996, a catalog was published listing 1,728 destroyed and lost works, which had previously remained unknown and classified by the Soviet regime as secret. The tragic fate of these museum artworks was showcased at the exhibition "This Entirely Secret Affair" (1996), where the display consisted of empty frames covered with black fabric.
The story of another part of the agency’s archive is also linked to the crimes of the Soviet authorities. In 1937, during a search at the All-Ukrainian Historical Museum in Kyiv, 153 stored items were discovered in the cabinet of custodian Anton Onyshchuk. There were primarily descriptions of designs, projects, and documents by Vasyl Krychevskyi created during the times of the Ukrainian People's Republic. All the materials were destroyed, and Onyshchuk was sentenced to death by a military tribunal. He was executed and buried in the Bykivnia Forest.
Meanwhile, a portion of the archival materials of the Ukrainian State Bank was preserved under the care of Kostiantyn Klepachivskyi, who initiated the establishment of this institution and was its director during the times of the Ukrainian People's Republic. The documents remained in his care for two decades until August 1944, when they were shipped away by the Nazis to an unknown destination.
The surviving documents of the Ministry of Finance of the Ukrainian People's Republic are currently housed in the Central State Archive of the Higher Authorities and Administration of Ukraine. Copies of these materials are exhibited here.
Part of the archive is also located in Krakow, in the National Archive of Poland. A metal chest containing samples of banknotes, printing blocks, stamps, and documents was taken to Kraków during the German occupation, along with other materials from the government of Symon Petliura.
Tetiana Voloshyna
Savings Books
Saving for a car in the Soviet Union was almost impossible. There was no need to save for an apartment, as apartments were not sold. Setting aside money for a refrigerator, washing machine, television, or fashionable clothing was pointless because such goods could only be obtained if you had connections. A factory-made carpet, a crystal vase, and a red polka-dot tea service set – these were the only humble goods that demonstrated prosperity in the Soviet Union.
To purchase goods that were in short supply or imported goods, one had go to special stores like "Berizka," provided one had foreign currency substitutes – Vneshposyltorg checks or special purchase invitations – a book with separate coupon designated for acquiring a specific category of goods.
Complicating consumption was one of the priorities of the economic policy in the Soviet Union. Household appliances were primarily manufactured for export to socialist countries, with supply to the domestic market being limited. With nowhere to spend their money, even people with modest income would save a little "on their savings books.” And the Savings Bank then funded industrial projects with this money.
By January 1991, Ukrainians had accumulated over 84 billion karbovanets on their savings books. However, due to political and financial manipulations by Moscow during the distribution of the Soviet Union's assets and hyperinflation, these savings "vanished."
Donation. Unity. Community
Ukrainians have long engaged in important endeavors collectively, through "toloka" (communal work). Each person contributed what they could to development and defense. History has preserved the names of notable donors such as Halshka Hulevychivna, Andrii Sheptytskyi, Konstanty Ostrogski, Varvara Hanenko, Mykola Tereshchenko, and Yevhen Chykalenko. However, it has not preserved the names of thousands of other responsible benefactors, without whose help established academies, schools, hospitals, shelters, journals, and museums could not have survived.
Today, this tradition continues: it is supported by numerous volunteer initiatives, crowdfunding, and donations. Civil society is creating a community where every contribution — large or small — becomes part of an important cause. The war has strengthened unity: Ukrainians unite their efforts every day to support the army, help the affected, preserve cultural heritage, and rebuild the country.
A donation is more than just financial assistance; it is a gesture of trust, solidarity, and unity.
The theme of this hall is the power of community, which is changing the world.
Mykhailo Mykhalevych
Mykhailo Mykhalevych was a Ukrainian graphic artist, iconographer, designer, and public and political figure. He was an active participant in the national liberation movement and a member of the OUN (Organization of Ukrainian Nationalists) from the early 1940s. In 1939, he headed the artistic department of the higher command of the Carpathian Sich, and later he led the arts division in the OUN. As an artist, Mykhalevych is best known for his graphic works, particularly posters that highlighted the struggle of Carpathian Ukraine. Additionally, his designs of potential OUN banknotes have been preserved. These designs are unique testimonies to the attempts to create a financial system for the Ukrainian underground.
Mykola Butovych
Mykola Butovych created designs for the coins of Carpathian Ukraine, which were never minted. He was a Ukrainian graphic artist and painter who participated in the liberation struggle. In the mid-1920s, he left Ukraine and lived and worked in Europe and America. Despite his forced emigration, his work remains an integral part of Ukraine’s artistic heritage. In easel graphics and painting, according to art historian Oleksandr Fedoruk, the master displayed a deep understanding of Ukrainian mythology, folklore, and ethnography, continuing the visual language of Heorhii Narbut.
Underground Mail of Ukraine
Ukrainian communities abroad issued special non-postal stamps, which people in the Ukrainian diaspora put on letters they sent, alongside the stamps of their country of residence. These non-postal stamps could bear denominations in hryvnias and shahs, as well as in US dollars, Polish zlotys, Austrian schillings, and so on. Notably, the themes on the stamps of the Underground Mail of Ukraine reflected the struggle of the Ukrainian people for freedom and highlighted the essence of Stalinism and the politics of the Soviet Union, rightly referring to the Soviet Empire as a prison of nations.
Andrii Boiko-Haharіn
Donations
1. Expecting from the NBU
2. Fundraising for the second anniversary of the Khartiia brigade for 10 sets of Vampir UAVs.
Vampirs UAVs are universal heavy drones that “drink” the blood of enemies every night and instill fear in them – so much so that they refer to this category of Ukrainian drones as Baba Yaga – an evil witch in Slavic folklore. Vampir UAVs can destroy large targets, conduct remote mining, and perform logistical tasks, and they are urgently needed by our fighters right now.
https://send.monobank.ua/jar/7WVeBC6ar2
3. Fundraising for the reconstruction of military town No. 2 of the Mukachevo garrison for the 3rd Separate Assault Brigade.
The plans for the renovation include the construction of modern training and sports facilities, as well as a center for the physical and psychological rehabilitation of servicemen. The Steel House charity foundation is implementing the project to rebuild the military town for performing combat tasks and rehabilitating Ukrainian defenders.
READY CODE https://drive.google.com/file/d/17uhCW7nsMIXPX-UlwjsExDFxBgiuZRLr/view?usp=drive_link
4. Fundraising for the reconstruction, equipping, and outfitting of a shelter for an educational institution in Kharkiv oblast.
Today, the school can only accommodate children and continue offline teaching if there is a shelter available. Together with the charity foundation of Serhii Prytula, we are restoring the basic rights to quality education and safety for children.
QR link: https://dobro.privatbank.ua/view/370
5. Fundraising for 10 powerful electronic warfare systems, which will provide protection for one of Ukraine’s air assault brigades.
In the conditions of modern warfare and the development of drone technologies, there is a growing need for electronic warfare (EW) systems to protect what is most valuable — personnel and equipment. Join the fundraiser and become true friends of an air assault brigade!
QR link: https://dobro.privatbank.ua/view/369
6. Fundraising by the Come Back Alive foundation to empower the Yatagan UAV School, established in 2024.
In only nine months of operation, the school has already trained 715 remote pilots (military specialist category 216), and our goal is to increase its capacity to 3,000 specialists.
QR link: https://dobro.privatbank.ua/view/371
7. Fundraising for the AZOV Brigade: Rehabilitation and Return to Duty.
Soldiers are the foundation of any unit, reflecting its effectiveness and combat readiness. Even after injuries, Azov fighters strive to return to duty as quickly as possible and continue to fight alongside their comrades. A joint initiative of PrivatBank AZOV.ONE, and the support service of the Azov Brigade aims to assist them in this.
QR link: https://dobro.privatbank.ua/view/372
8. Fundraising for Superhumans – The Face of Humanity.
They live among us, yet they are hidden from the eyes of society. These are people whom the war has robbed of their faces and the ability to be themselves. Let’s help those with facial injuries to open up again – to themselves and to others.
QR link: https://dobro.privatbank.ua/view/1015
9. Fundraising for the Main Intelligence Directorate: Putting the Wind up the Enemy.
Every day, the “owls” of the directorate seek and destroy the enemy. To have sharp eyesight and strong wings, the birds need the power of technology. Join the fundraising to put the wind up the enemy.
QR link: https://dobro.privatbank.ua/view/1014
10. Fundraising to support medical workers.
Every day, medical workers across the country work urgently to save the lives of Ukrainians: soldiers and civilians, adults and children. To support medics, PrivatBank and its clients are urgently collecting donations for critically important equipment, medicines, and supplies. We are helping here and now.
QR link: https://dobro.privatbank.ua/view/360
Ivan Franko to the Front
The charitable initiative "Send Franko to the Front" was launched in June 2022, when the flow of donations to Ukraine’s Armed Forces fell for the first time. (Note: an image of Ukrainian poet Ivan Franko is depicted on the 20-hryvnia note). At that time, the call "Franko to the Front" generated a wave of micro-donations across the country. Since then, it has become a tradition among Ukrainians to send UAH 10, 20, or 50 daily for the needs of Ukraine’s Armed Forces. Over the years of its operation, the charitable initiative has gathered volunteers around it – an entire community of Kameniari (stone cutters). (Note: the “Kameniari” called the “Stone Cutters” is a famous poem by Ivan Franko). Together and individually, the Kameniari continue to “break down this rock” (Note: a line from the poem), fostering a culture of volunteering, coming up with new fundraising ideas, new methods, and new charitable activities, raising millions of hryvnias for the needs of the military.