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).
The Chervonet is a 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 was melted down.
|10 Roubles 1923||Leningrad – ПЛ||2.751.000|
|10 Roubles 1975||St. Petersburg – ЛМД||250.000|
|10 Roubles 1976||St. Petersburg – ЛМД||1.000.000|
|10 Roubles 1977||St. Pétersbourg – ЛМД||1.000.000|
|10 Roubles 1977||Moscow – ММД||1.000.000|
|10 Roubles 1978||Moscow – ММД||350.000|
|10 Roubles 1979||Moscow – ММД||1.000.000|
|10 Roubles 1980||St. Petersburg – ЛМД||900.000|
|10 Roubles 1980 ★ Proof||Moscow – ММД||100.000|
|10 Roubles 1981||Moscow – ММД||1.000.000|
|10 Roubles 1982||Moscow – ММД||1.000.000|
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 specialized foreign numismatic publications and organizations.
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.
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.).
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).