Russia 1845-SP 3 rubles - Revision history

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LatinKing2020: Created page with "Stack's Bowers 2021 ANA sale, lot 41436 photo courtesy Stack's Bowers LLC This specimen was lot..."

2021-09-03T17:02:39Z

Created page with "300px|thumb|Stack's Bowers 2021 ANA sale, lot 41436 300px|thumb|photo courtesy Stack's Bowers LLC This specimen was lot..."

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[[Image:SB821-41436o.jpg|300px|thumb|Stack's Bowers 2021 ANA sale, lot 41436]]
[[Image:SB821-41436r.jpg|300px|thumb|photo courtesy Stack's Bowers LLC]]

This specimen was lot 41436 in Stack's Bowers ANA sale (Costa Mesa, CA, August 2021), where it sold for $33,600. The catalog description<sup>[1]</sup> noted, <blockquote>"Very Rare Final Date Platinum 3 Rubles, [[Russia|RUSSIA]]. Platinum 3 Rubles, 1845-CNB. St. Petersburg Mint. Nicholas I. PCGS MS-64 Prooflike Gold Shield. A low mintage date with few examples that survive. Of those survivors, this is perhaps the finest, and it exists as the only Mint State graded example at either PCGS or NGC. A deeper inspection into archived auction records compiled on Russia's "Mint" portal seems to confirm this coin's EXTREME RARITY, as only seven auction records appear, the most recent being in 2017 and the earliest cited being 1969. Of those, three examples are recorded as proofs, while none of the examples cited as business strikes have been cataloged above Extremely Fine quality. This example easily exceeds those standards however, with strong gleam appearing in the fields and pleasing contrast on the devices. A few instances of trivial handling are noted upon close inspection, but no instance is bothersome. As such, a tremendous opportunity for the advanced collector of Russian rarities.

The discovery of platinum in the Urals of Western Siberia resulted in the production of three new Russian decimal coinage denominations. By the imperial decree of April 24, 1828, platinum coinage was initiated for circulation. The minting of platinum coinage in 19th century Russia was done on a very limited basis and for a period of less than two decades. The new coinage denominations were not well-received by the public, as they were produced in a pale white metal that was unfamiliar in circulation. In 1845, an imperial decree was issued ordering the minting of platinum coinage to cease. Simultaneously, the existing pieces were ordered to be recalled within a six month period. For this reason, much of the original mintages were redeemed and destroyed, which accounts for their rarity today. As the allowable six month period was too short for all the platinum issues to be redeemed and destroyed, it is largely responsible for the examples known today."</blockquote> 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. Gold three rubles were struck 1869-85.

''Recorded mintage:'' 50,000.

''Specification:'' 10.35 g, platinum, .332 troy oz APW.

''Catalog reference:'' Fr-160; KM-C-177; Bit-91.

''[[Bibliography|Source:]]''
* 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.
* 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.
* <sup>[1]</sup>Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, ''The August 2021 ANA sale: World and Ancient Coins,'' Costa Mesa, CA: Stack's Bowers LLC, 2021.

''Link to:''
* [[Russia 1843-SP 3 rubles|1843-СПБ platinum 3 rubles]]
* [[Russia 1844-SP CB 5 rubles|1844 gold 5 rubles]]
* [[Russia 1845-SP KB 5 kopeks|1845-СПБ КБ 5 kopeks]]
* [[Russia 1845-SP KB 20 kopeks|1845-СПБ КБ 20 kopeks]]
* [[Russia 1846-SP AG 5 rubles|1846 gold 5 rubles]]
* [[Coins and currency dated 1845]]

[[Category:Selections from the Stack's Bowers 2021 ANA sale]]

@@ Line 26: / Line 26: @@
 * [[Russia 1845-SP KB 25 kopeks|1845-СПБ КБ 25 kopeks]]
 * [[Russia 1845-SP KB poltina|1845-СПБ KБ poltina]]
 * [[Russia 1845-SP CB 5 rubles|1845-СПБ КБ 5 rubles]]
 * [[Russia 1846-SP AG 5 rubles|1846 gold 5 rubles]]

@@ Line 25: / Line 25: @@
 * [[Russia 1845-SP KB 20 kopeks|1845-СПБ КБ 20 kopeks]]
 * [[Russia 1845-SP KB 25 kopeks|1845-СПБ КБ 25 kopeks]]
 * [[Russia 1845-SP CB 5 rubles|1845-СПБ КБ 5 rubles]]
 * [[Russia 1846-SP AG 5 rubles|1846 gold 5 rubles]]

@@ Line 24: / Line 24: @@
 * [[Russia 1845-SP KB 5 kopeks|1845-СПБ КБ 5 kopeks]]
 * [[Russia 1845-SP KB 20 kopeks|1845-СПБ КБ 20 kopeks]]
 * [[Russia 1846-SP AG 5 rubles|1846 gold 5 rubles]]
 * [[Coins and currency dated 1845]]
 [[Category:Selections from the Stack's Bowers 2021 ANA sale]]

@@ Line 20: / Line 20: @@
 ''Link to:''
-* [[Russia 1843-SP 3 rubles|1843-СПБ platinum 3 rubles]]
+* [[Russia 1844-SP 3 rubles|1844-СПБ platinum 3 rubles]]
 * [[Russia 1844-SP CB 5 rubles|1844 gold 5 rubles]]
 * [[Russia 1845-SP KB 5 kopeks|1845-СПБ КБ 5 kopeks]]

@@ Line 4: / Line 4: @@
 This specimen was lot 41436 in Stack's Bowers ANA sale (Costa Mesa, CA, August 2021), where it sold for $33,600. The catalog description<sup>[1]</sup> noted, <blockquote>"Very Rare Final Date Platinum 3 Rubles, [[Russia|RUSSIA]]. Platinum 3 Rubles, 1845-CNB. St. Petersburg Mint. Nicholas I. PCGS MS-64 Prooflike Gold Shield. A low mintage date with few examples that survive. Of those survivors, this is perhaps the finest, and it exists as the only Mint State graded example at either PCGS or NGC. A deeper inspection into archived auction records compiled on Russia's "Mint" portal seems to confirm this coin's EXTREME RARITY, as only seven auction records appear, the most recent being in 2017 and the earliest cited being 1969. Of those, three examples are recorded as proofs, while none of the examples cited as business strikes have been cataloged above Extremely Fine quality. This example easily exceeds those standards however, with strong gleam appearing in the fields and pleasing contrast on the devices. A few instances of trivial handling are noted upon close inspection, but no instance is bothersome. As such, a tremendous opportunity for the advanced collector of Russian rarities.
-The discovery of platinum in the Urals of Western Siberia resulted in the production of three new Russian decimal coinage denominations. By the imperial decree of April 24, 1828, platinum coinage was initiated for circulation. The minting of platinum coinage in 19th century Russia was done on a very limited basis and for a period of less than two decades. The new coinage denominations were not well-received by the public, as they were produced in a pale white metal that was unfamiliar in circulation. In 1845, an imperial decree was issued ordering the minting of platinum coinage to cease. Simultaneously, the existing pieces were ordered to be recalled within a six month period. For this reason, much of the original mintages were redeemed and destroyed, which accounts for their rarity today. As the allowable six month period was too short for all the platinum issues to be redeemed and destroyed, it is largely responsible for the examples known today."</blockquote> 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. Gold three rubles were struck 1869-85.
+<p>The discovery of platinum in the Urals of Western Siberia resulted in the production of three new Russian decimal coinage denominations. By the imperial decree of April 24, 1828, platinum coinage was initiated for circulation. The minting of platinum coinage in 19th century Russia was done on a very limited basis and for a period of less than two decades. The new coinage denominations were not well-received by the public, as they were produced in a pale white metal that was unfamiliar in circulation. In 1845, an imperial decree was issued ordering the minting of platinum coinage to cease. Simultaneously, the existing pieces were ordered to be recalled within a six month period. For this reason, much of the original mintages were redeemed and destroyed, which accounts for their rarity today. As the allowable six month period was too short for all the platinum issues to be redeemed and destroyed, it is largely responsible for the examples known today."</p></blockquote> 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. Gold three rubles were struck 1869-85.
 ''Recorded mintage:'' 50,000.