Russia 1838-SP 3 rubles
This specimen was lot 25388 in Heritage sale 3019 (Chicago, April 2012), where it sold for $3,737.50. The catalog description[2] noted, "Nicholas I platinum 3 Roubles 1838 СПБ, Crowned double-headed Imperial eagle / Date and value in beaded circle, AU50 PCGS. Well struck with luster remaining. A very scarce, and underrated issue." This type was struck 1828-45 and is the most available 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 of three, six and twelve rubles 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: 49,000.
Specification: 10.35 g, platinum, .332 troy oz APW.
Catalog reference: Bitkin 84, Fr-160, KM C177.
- 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.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
- 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.
- [2]Tucker, Warren, and Cristiano Bierrenbach, World and Ancient Coins sale 3019, Dallas: Heritage Auction Galleries, 2012.
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