Russia 1837-SP 12 rubles
This specimen was lot 30363 in Heritage sale 3097 (New York, January 2022), where it sold for $56,400. The catalog description[1] noted,
"Rare and Large Denomination Platinum 12 Roubles. Russia: Nicholas I platinum 12 Roubles 1837-CПБ AU Details (Tooled) NGC, St. Petersburg mint. A truly awe-inspiring example of this notorious series, struck from a miniscule mintage of just 53 pieces for this date. While specimens of lesser denominations are seen with greater regularity at auction, these 12 Roubles, the largest of the entire platinum series, are witnessed much more infrequently; this date in particular has only been seen at market a total of ten times in the last 20 years. The current representative exhibits raised designs produced with exact calculation as is typically encountered on the mid-19th Russian series as a whole, with every feature rising in clean contrast against its surrounding elements. Despite the noted conditional qualifier distinguished by scattered instances of tooling, graffiti, and wisps, the piece remains an icon of Russian numismatics as the first platinum emission to enter general circulation."
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: 53.
Specification: 41.41 g, platinum, 1.331 troy oz APW.
Catalog reference: KM-C179, Fr-158, Bit-46 (R3).
- 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]Cristiano Bierrenbach, Warren Tucker and Sam Spiegel, NYINC World Coins Platinum Night Auction 3097, Dallas, TX: Heritage Auction Galleries, 2021.
Link to: