Russian Chervonets

Russian Chervonets are gold bullion coins of Russia. It was Russia’s former currency. Until recently, Russian Chervonets were considered to be collectable items and valued only by the collectors. Today the government officials are thinking of reviving them as complete and real currency.

The Russian Chervonets were introduced in 1701. They were presented with the mass of 3.47g and had an alloy mixture of 0.986. Before Peter the First came to the throne, the term Chervonets was used to describe all foreign gold coins dispersed in Russia. The production of Russian Chervonets continued until 1757. The gold rubles later replaced the Chervonets.

In 1922 Russian Chervonets were reintroduced by the Soviet Government with a whole new value and mass of 8.6g and alloy of .900. The gold coin minting process was halted right after its value was attached to 10-rubles. Before the Moscow Olympics in 1980, a large number of Russian Chervonets were minted for souvenirs and business proceedings. These coins were an exact replica of the 10-ruble gold coins of the 1920s.

The total weight of one Chervonet is 8,603g with a thickness of 1.70mm and a diameter of 22.60 mm. The purity and fineness of gold is at the rate of 900/1000. There were 6,565,000 of mintage pieces of the Russian Chervonets.

On the obverse of the coin, the State Emblem of the RSFSR is engraved in the center. It features a shield enclosed by a garland with the picture of hammer and sickle against the backdrop of sunbeams. On the reverse side, a picture of a farmer is engraved. The background features a plough, rising sun and factories. A picture of Lenin’s face was printed on the Chervonet’s bank note for the first time in 1937.

The price of the Chervonets are much higher that their gold equivalents. This is the reason why Chervonets have not been used for real life payments till date.