Stack's Bowers & Ponterio
August 2016 ANA Auction - Sess. A-C 10-12 August 2016
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RUSSIA. 37 1/2 Ruble (100 Franc), 1902. PCGS PROOF-62 Secure Holder.
Fr-170; Y-B65; Bit-315(R2); Sev-578(EXTREMELY RARE); RK-371. With a reported mintage of 225, the Russian 37 Rubles 50 Kopeks gold coin has long been a source of fascination for all collectors of Russian numismatics, regardless of their ability to ever actually own an example. Having the largest denomination of any coin ever issued from the Russian Empire, along with its considerable size and weight, the type has all of the allure and mystique that any collector of rare coins could ask for. Struck at a time shortly after Russia went on the international gold standard, the influence of foreign interests and banks is unmistakable. Beginning in the late eighteenth century, and becoming more pronounced as the nineteenth century progressed, Russia increasingly relied on foreign banking consortiums to float Russian bonds. At first funds were raised primarily in Amsterdam, then in Germany, and by late in the nineteenth century almost exclusively in France. The inclusion of "100 Francs" in the reverse legend denoting the coin's adherence to the Latin Monetary Union, also clearly demonstrated the economic ties that Russia had with lenders in France. The Rothschild banking empire based in Paris, where many Russian bonds were placed, was a major participant in underwriting the Russian bond offering floated in early 1901, and may well be the source of the gold within the coin offered here. Containing the exact same gold content of a contemporary French 100 Francs, and struck in the same 0.900 fine gold alloy, this 37 Ruble 50 Kopeks piece would have been interchangeable at par in circulation. Bitkin describes the coin as "Donative" suggesting the coins were never intended to circulate, but instead were meant as gifts to gain influence while conducting official Russian state business. S.I. Chizhov, in his book "Outline of Certain Types of Russian Coins in Past Two Centuries," Moscow 1904, states: "These coins not struck for circulation but selected for high dignitaries in the amount of 225 specimens. In all, 200 pieces were presented to His Majesty for personal gifts on special occasions. The remaining 25 specimens were turned over to H.I.H. Grand Duke George Mikhailovich." Much as the original mintage suggests, Severin's assessment of the coin's EXTREME RARITY is also reflected in the census data available at PCGS and NGC. Seen only five times by the grading services in PROOF, the piece presented here is tied with one other piece for finest graded at PCGS, with a single coin grading a point finer at NGC. The coin exhibits a light even tone consistent with its copper alloyed metal, and is without copper spots or other detriments. The fields are highly reflective, and free of major abrasions. The portrait remains exquisitely preserved. Razor sharp rims, denticles and legends lend instant confirmation to the PROOF status of the coin. For those collectors positioned to acquire this piece, now is the time to act if a coin of this stature is ever to be added to the collection. PROOF-62 CAMEO Secure Holder.
From the Kiev Collection. Ex: Mortimer Hammel Collection. Stack's Auction September 1982, Lot #600.
Estimate: $70000.00- $100000.00
Fr-170; Y-B65; Bit-315(R2); Sev-578(EXTREMELY RARE); RK-371. With a reported mintage of 225, the Russian 37 Rubles 50 Kopeks gold coin has long been a source of fascination for all collectors of Russian numismatics, regardless of their ability to ever actually own an example. Having the largest denomination of any coin ever issued from the Russian Empire, along with its considerable size and weight, the type has all of the allure and mystique that any collector of rare coins could ask for. Struck at a time shortly after Russia went on the international gold standard, the influence of foreign interests and banks is unmistakable. Beginning in the late eighteenth century, and becoming more pronounced as the nineteenth century progressed, Russia increasingly relied on foreign banking consortiums to float Russian bonds. At first funds were raised primarily in Amsterdam, then in Germany, and by late in the nineteenth century almost exclusively in France. The inclusion of "100 Francs" in the reverse legend denoting the coin's adherence to the Latin Monetary Union, also clearly demonstrated the economic ties that Russia had with lenders in France. The Rothschild banking empire based in Paris, where many Russian bonds were placed, was a major participant in underwriting the Russian bond offering floated in early 1901, and may well be the source of the gold within the coin offered here. Containing the exact same gold content of a contemporary French 100 Francs, and struck in the same 0.900 fine gold alloy, this 37 Ruble 50 Kopeks piece would have been interchangeable at par in circulation. Bitkin describes the coin as "Donative" suggesting the coins were never intended to circulate, but instead were meant as gifts to gain influence while conducting official Russian state business. S.I. Chizhov, in his book "Outline of Certain Types of Russian Coins in Past Two Centuries," Moscow 1904, states: "These coins not struck for circulation but selected for high dignitaries in the amount of 225 specimens. In all, 200 pieces were presented to His Majesty for personal gifts on special occasions. The remaining 25 specimens were turned over to H.I.H. Grand Duke George Mikhailovich." Much as the original mintage suggests, Severin's assessment of the coin's EXTREME RARITY is also reflected in the census data available at PCGS and NGC. Seen only five times by the grading services in PROOF, the piece presented here is tied with one other piece for finest graded at PCGS, with a single coin grading a point finer at NGC. The coin exhibits a light even tone consistent with its copper alloyed metal, and is without copper spots or other detriments. The fields are highly reflective, and free of major abrasions. The portrait remains exquisitely preserved. Razor sharp rims, denticles and legends lend instant confirmation to the PROOF status of the coin. For those collectors positioned to acquire this piece, now is the time to act if a coin of this stature is ever to be added to the collection. PROOF-62 CAMEO Secure Holder.
From the Kiev Collection. Ex: Mortimer Hammel Collection. Stack's Auction September 1982, Lot #600.
Estimate: $70000.00- $100000.00