Stack's Bowers & Ponterio
Collector's Choice October 2021 Auction 12-14 Oct 2021
View prices realized
► Sale information
Find similar lots
RUSSIA. 37-1/2 Rubles (100 Francs), 1902. St. Petersburg Mint; mm: star on edge. Nicholas II. NGC AU-58.
Fr-170; KM-Y-B65; Bit-315 (R2); Sev-578 (as "EXTREMELY RARE"). Mintage: 235. The fabled 37 Rubles and 50 Kopeks gold coin has long been a source of fascination for all collectors of Russian numismatics, regardless of the virtual inability to 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 ULTRA RARITIES could ask for. Struck at a time shortly after Russia went onto the international gold standard, the piece is heavily influenced by foreign banking interests. Beginning in the late 18th century, and becoming more pronounced as the 19th century progressed, Russia increasingly relied upon foreign banking consortiums to float Russian bonds. At first, funds were raised primarily in Amsterdam, then in Germany, and by late in the 19th 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 Rubles and 50 Kopeks piece would have been interchangeable at par in circulation. Bitkin describes the coin as a "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," 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." An EXCEPTIONAL RARITY assuredly destined for the finest and most advanced of cabinets.
Estimate: $120000 - $150000
Fr-170; KM-Y-B65; Bit-315 (R2); Sev-578 (as "EXTREMELY RARE"). Mintage: 235. The fabled 37 Rubles and 50 Kopeks gold coin has long been a source of fascination for all collectors of Russian numismatics, regardless of the virtual inability to 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 ULTRA RARITIES could ask for. Struck at a time shortly after Russia went onto the international gold standard, the piece is heavily influenced by foreign banking interests. Beginning in the late 18th century, and becoming more pronounced as the 19th century progressed, Russia increasingly relied upon foreign banking consortiums to float Russian bonds. At first, funds were raised primarily in Amsterdam, then in Germany, and by late in the 19th 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 Rubles and 50 Kopeks piece would have been interchangeable at par in circulation. Bitkin describes the coin as a "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," 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." An EXCEPTIONAL RARITY assuredly destined for the finest and most advanced of cabinets.
Estimate: $120000 - $150000