Russia 1832-SP 12 rubles

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from the Stack's Bowers 2020 NYINC sale, lot 21317
Russia SB120-21317r.jpg

This specimen was lot 21317 in Stack's Bowers NYINC sale (New York, January 2020), where it sold for $24,000. The catalog description[1] noted, "Sharply Detailed 1832 Platinum 12 Rubles. RUSSIA. Platinum 12 Rubles, 1832-CNB. St. Petersburg Mint. Nicholas I. NGC Unc Details--Obverse Graffiti, Rim Damaged. Marks, nondescript but clearly placed with purpose, appear just inside the eagle's wings at the edges. A moderate bruise, likely from being dropped at one time, is also visible near 9 o'clock on the reverse rim. Despite these imperfections, still very acceptable in its appearance, with bold reflectivity visible in the fields and designs that are sharp and well-formed. Altogether, a very decent example of this denomination that is not only elusive, but is sought the world round due to its unusualness (being the largest denomination of the world's first circulating platinum coin) and noteworthy heft." 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: 1,102.

Specification: 41.41 g, platinum, 1.331 troy oz APW; this specimen 41.31 g.

Catalog reference: 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.
  • [1]Orsini, Matt, Richard Ponterio and Kyle Ponterio, The January 2020 NYINC Sale: Ancient Coins, World Coins & Paper Money, Santa Ana, CA: Stack's Bowers LLC, 2019.

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