 The gold ten was estimated at the market of 12,500 rubles.Soviet signs of 1922, the State Bank who was guided by the conjuncture, estimated one chervonetz at 11,400 rubles with Sovznak, which is somewhat lower than the price of a gold ten-ruble.Chervonets was met with confidence by the population and was viewed rather not as a medium of circulation, but as a non-monetary security.