Russian Gold Investment Coins -10 Rouble Chervonets and 50 Rouble “George the Victorious”

Bank of Russia

Bank of Russia

Within its framework , the Bank of Russia issues commemorative coins made of precious and non precious metals as well as investment coins made of precious metals, which are distributed inside and outside the country. The Bank of Russia has been engaged in this work since its founding in 1992 (previously, in  1965 – 1991 commemorative and investment coins were issued by the State Bank of the USSR).

For the first time in 1996 Russian citizens were offered investment coins on domestic market, gold uncirculated Chervonets coins minted in 1975-1982 and the  silver “Sable” coin of 1995.  The Board of Directors of the Bank of Russia, declared on March 5, 2001, that the gold Chervonets and the silver “Sable” are legal tender in the territory of the Russian Federation.

To create conditions for gold coins to be used  as an independent instrument  for investment  the gold Chervonets, and a new 24 carat gold coin “George the Victorious” were relieved of VAT as declared in the Article 149 of the second part of the Tax Code of the Russian Federation.

The coins of the Bank of Russia are struck in the Moscow and St. Petersburg mints and have a high artistic standard and perfect striking quality. They are popular in Russia and abroad, some of them repeatedly took prizes in opinion polls  held by specialised foreign numismatic publications and organizations.

The Chervonet is gold coin that was issued both for circulation and as a trade or bullion coin. First minted in 1701 under Peter the Great. The origins of the word are derived from the word “Chervonny”, meaning in Russian literally “Red” but also “of a High Quality” and had gold composition of 0.986 and weighed 3.47 g.
The second issue was an attempt to strengthen Soviet economics with “hard” currency backed by the gold reserve but was not successful due to political reasons. These were larger and weighted 8.6 g. with a gold composition of 0.900
There was another attempt in 1925 to strike more Gold Chervonets coins, but it is believed that all but one were melted down.

From 1975 to 1982, the Soviet Union was issuing Chervonets gold coins, equal to 10 Roubles, using the old design but with the new dates in relatively modest amounts as a bullion coinage and is the only issue commonly found.

Russia Chervonets 1976 obv

Chervonets 1976 Obverse

Chervonets – in the center – the State Emblem of the RSFSR (the abbreviation for Russian Soviet Federative Socialist Republic): the shield surrounded by a wreath of ears and bearing the picture of hammer and sickle against the background of sunbeams; the inscriptions along the rim framed by a circle of dots: at the top – “ПРОЛЕТАРИИ ВСЕХ СТРАН СОЕДИНЯЙТЕСЬ!” (WORKERS OF THE WOPLD, UNITE!), at the bottom, under the State Emblem – “Р.С.Ф.С.Р” (R.S.F.S.R.).

Russia Chervonets 1976 rev

Chervonets 1976 Reverse

The picture of a peasant – sower against the background of a plough, the rising sun and factories. The inscriptions along the rim framed by a circle of dots: at the top – “ОДИН ЧЕРВОНЕЦ” (ONE CHERVONETS), at the bottom to the left – the year of issue (1975 – 1982).The edge is bearing the pressed inscription: “1 ЗОЛОТНИК 78,24 ДОЛИ ЧИСТОГО ЗОЛОТА” (1 ZOLOTNIK 78,24 PARTS OF PURE GOLD). The coins were struck by Moscow Mint (ММД) and Leningrad Mint (ЛМД).

50 roub G the V O_R

"George the Victorious" slaying the dragon

In February 2006 a new 24 carat gold investment coin featuring the Saint Georges the Victorious was introduced  by the Bank of Russia. This is very similar to the reverse of the British Sovereign and should prove popular in the UK.  So far 1,500,000 coins have been minted.

Obverse – in the centre – the Emblem of the Bank of Russia [the two-headed eagle with wings down, lower – the semicircular inscription – «БАНК РОССИИ» (BANK OF RUSSIA)] framed by a circle of dots and inscriptions along the rim: at the top – «ПЯТЬДЕСЯТ РУБЛЕЙ» (FIFTY RUBLES), at the bottom – the year of issue «2006», the letters to the left indicate the metal sign and the fineness, to the right – the fine metal content and the mint trade mark.

The Reverse  depicts the image of St. George the Victorious sitting on horseback and slaying a dragon.

Future Mintage

In 2010, the Bank of Russian are planning to issue 700,000  of the 50 rouble St George the Victorious coins, and in 2011 they plan to issue a new design 24 carat gold coin with the same specifications to commemorate the XXII th Winter Olympic Games – 2014 in Sochi.  This will be a 50 Rouble denomination coin and the planned mintage is 2,000,000. So Russia apart from being one of the major modern players in the world gold market is planning to be much more active in the bullion coin investment market.


Rouble spec

Russia has also produced in modest quantities commemorative gold coins in 10,25,50 and 100 Rouble denominations with themes of the Russian Ballet (most common) , the 22nd Olympiad in Moscow,  anniversary of the Russian State Russian featuring architecture, monuments and Leo Tolstoy

Maurice Hall

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2 Responses to “Russian Gold Investment Coins -10 Rouble Chervonets and 50 Rouble “George the Victorious””

  1. Betty Lockhart Says:

    I have one of the Russian Ballet 10 rouble coins. Can you give me an idea of it’s value. it was minted in 1993.
    Thanking you in advance,
    Betty Lockhart

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