Russia 1831-SP 12 rubles

Heritage sale 3019, lot 25389

This specimen was lot 25389 in Heritage sale 3019 (Chicago, April 2012), where it did not sell. The catalog description^[2] noted, "Nicholas I platinum 12 Roubles 1831 СПБ, Crowned Doubled-headed Imperial eagle / Date and value in beaded circle, AU58 NGC. Well struck, with luster remaining. The largest of the platinum series, and a very rare, and popular issue. Platinum was discovered in the Ural mountains. Shortly thereafter (in 1828) Russia began to mint platinum coins. Production continued until 1845 when minting was stopped, and the coins re-called and melted." This type was struck 1830-45 and is the rarest and most glamorous of the platinum denominations of three, six and twelve rubles. So far as is known, Russia is the only country ever to attempt to strike platinum for circulation with this series issued 1829-45. The experiment was not a success as the metal is as hard as nickel, making it difficult to strike, and its price kept dropping relative to gold, discounting the value of the coin. In fact, platinum was used extensively by counterfeiters in the nineteenth century to make fake gold coins as the metal has nearly the same density.

Recorded mintage: 1,483.

Specification: 41.41 g, platinum, 1.331 troy oz APW.

Catalog reference: Severin 604, Bitkin 40, Fr-158, KM C179.

Source:

Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 9th ed., Clifton, NJ: Coin and Currency Institute, 2017.
Bitkin, Vladimir, Composite Catalogue of Russian Coins, Part II (1740-1917), Kiev: Moneta, 2003.
Harris, Robert P., Guidebook of Russian Coins, 1725 to 1970, Santa Cruz, CA: Bonanza Press, 1971.
Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
^[2]Tucker, Warren, and Cristiano Bierrenbach, World and Ancient Coins sale 3019, Dallas: Heritage Auction Galleries, 2012.

Link to:

Russia 1831-SP 12 rubles

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