Gold Chervonets coins were first created by Imperial Czarist Russia, then revived by the Soviet Union, and again reintroduced under the patronage of the Bank of Russia in recent years. Since its inception in 1992, the Bank of Russia has been minting and promoting these coins. Until this time, investment and collectible coins were issued by the State Bank of the Soviet Union from 1965 to 1991, and by the Czars prior to that from 1701. They are an intriguing choice for gold investors and historical world gold coin collectors alike since they are an exotic world gold coin with a stormy history.
Soviet and Russian Chervonets Gold Coins Background and History
In 1996, the residents of the new Russian Republic were first handed Soviet and Russian Chervonets Gold Coins. The Bank of Russia made the decision at this time to sell investment-grade gold coins on its domestic markets. By an edict of the Bank of Russian Board of Directors in 2001, these coins were made legal tender throughout the vast areas of the Russian Federation, and the silver Sable coins were also made legal tender issues at the time.
Both the St. Petersburg and Moscow mints produce these coins. All have a gorgeous and high-quality design standard, as well as images that are precisely struck. They are well-liked not just in Russia, but also in other countries. In opinion surveys performed by many numismatic organizations and their publications, international collectors have occasionally rated them among the best global gold coins.
The Russian Republic or even the Soviet Union era versions of these coins did not begin their lives with the Russian Republic. They were originally used for circulation and bullion purposes in 1701, during the turbulent reign of Czar Peter the Great. The word “Chervonny” is derived from the Russian “Chervonny,” which means “High Quality” and “Red.” They are a high quality gold coin for the day they were produced, with an initial Imperial Russian Empire gold purity of 98.6 percent.
Under the Soviet Union, the second series of Chervonets Gold Coins was issued. By introducing currency with an intrinsic gold value and natural gold standard backing, the Soviets hoped to enhance their economy and financial system. These coins were larger and had a gold purity of 90% instead of 95%. In 1925, and again from 1975 to 1982, the Soviets struck these coins with a face value of ten Roubles. They borrowed a design from the Soviet era, but updated it with current year dates. These were not meant for general circulation at the time, but rather as a real gold bullion coin.
Soviet and Russian Chervonets Gold Coins Physical Characteristics
The Russian Soviet Federative Socialist Republic State Emblem is featured in the middle of the USSR Chervonets Gold Coins of the Soviet series. The shield is encircled by an ear wreath with the image of the hammer and sickle set against a background of sunbeams. The everlasting rally cry is “C!” or in English, WORKERS OF THE WORLD, UNITE! The traditional communist chant appears on the rim, set off by a circle of dots. The year of mintage can be found near the bottom, to the left.
Coin Design
Numismatists all throughout the world refer to the front side of coins as the “obverse.” On the obverse of the Bank of Russia-issued Russian Chervonets Gold Coins is the Bank of Russia Emblem, which is depicted as a two-headed eagle with its wings down. A semicircular inscription beneath that reads BANK OF RUSSIA in Russian. A ring of dots and other inscriptions around the rim frame this. On the George the Victorious coins, the top says Fifty Roubles, while on the Chervonets coins, it says 10 Roubles, and the bottom says the year of mintage. The letters illustrate the periodic table of the elements on the left, the metal gold on the right, and the fineness on the left with the corresponding mint mark.
The back side of coins is known as the “reverse.” The heroic imagery of St. George the Victorious as he sits astride his horse and slays the fearsome dragon of medieval lore is shown on Russian Chervonets Gold Coins. These St. George the Victorious coins have a purity of 99.9% gold and look similar to the reverse sides of British Sovereign coins. They are significantly purer than both the original Imperial Russian and older Soviet versions of the Chervonets coins, with 24 Karat gold.
Specifications
Russian Chervonets Gold Coins come in two sizes, the 10 Rouble face value Chervonets and the 50 Rouble valued George the Victorious coins. The dimensions of the Chervonets version are as follows:
- Mass: 8.603 grams
- Diameter: 22.6 mm
- Thickness: 1.7 mm
- Content: 7.742 grams gold
- Purity: 90.0% gold
The gold purity is the key difference between these and the George the Victorious coins. The better George variations are made entirely of 99.9% pure gold. They are essentially identical in size and proportions to their less pure Chervonets cousins.
Soviet and Russian Chervonets Gold Coins Pricing
The face value of Soviet and Russian Chervonets Gold Coins is 10 Roubles. While this sum is considerable legal tender in Russia today, their intrinsic worth is much higher due to the gold content. When the intrinsic worth of these coins approaches $1,000 per coin, no one in the Russian Federation would willingly spend them at face value. The intrinsic value is mostly determined by the spot price of the gold contained therein. These bullion pieces, like all bullion coin issues, have a small premium to offset the mints’ costs of creating and distributing the coins.
The fair market value of the coins is determined by their intrinsic value. Market value is significant because it decides how much a coin is worth when it’s part of an investment or retirement portfolio, or when it’s part of a coin collection. In international precious metals market trading, the market price of these coins increases and falls with the daily range of gold prices. You can watch this unfold in real time by going to our site.
