|
Page 2 of 2
In 1846 platinum coining was stopped though by that time Ural platinum
production totaled 32 000 kg,
out of which 14 669 kg
was coined. Within 1846-1847 platinum was not produced and further it was
produced in miserable volume.
So, why was platinum coining stopped? And the best explanation came from
a person different from the numismatist. In his work «Chapter about money» Karl
Marx stated, «...platinum does not posses an adequate color: it is nothing but
grey (metallic smoke); too rare..., always in nuggets, ...does not melt at
relatively high temperature».
Yet, platinum is fairly rare metal, and that time it was mined actually
in Russia and Columbia, thus it hardly could attain the significance of
international money. And the tradition played a particular role: within 2 500 platinum
was not observed among the coining metals and people were suspicious around it
in fear that it would devalue if discovered in other countries. Relative
unprofitableness of coining for the Mint was significantа. Thus, cost for issue
of three-rouble coin made (apart from metal cost) 98 kopek, or 33 kopek to one
rouble, and the costs to issue one gold five-rouble coin made less than one
kopek to a rouble.
Besides, they were concerned about possible decrease in price for
platinum, which will cause a number of fake platinum coins. Therefore, on June
22, 1845 with the purpose to «arrange and order the monetary system of Russia» it
was decided «as a benefit to stop platinum coining at all.
Within half a year a platinum coin was withdrawn from circulation, and
the remainder at the population made 883 212 roubles in total. It is
interesting but this event did not cause stock-jobbing, and nobody tried to conceal
platinum as a «treasure». This allowed the government to easily withdraw all
the coins issued from this metal and replace it for gold and silver ones. A
huge amount of platinum at the St.Petersburg Mint, partly as pure coints, and
partly as raw material (by different data, from 193 200 to 537 600 kg), was sold to
the English Company Johnson, Matte and Co. as a result England stayed as the
monopolist in this industry mining neither a gram of platinum. By the way, this
Company is still active.
And this was the end of the first experience in the world to issue
platinum coins, and it happened not somewhere behind the mountains, but there,
in Russia. Imperial platinum coins became rare numismatic relics.
Nowadays ancient Russian coins from platinum are traded at the
numismatic auctions, but it is too rare. And especially the coins issued in
small quantity (see the table of copies). At the UBS Gold and Silver Auction 50
held in fall 2001 in
Basel, a very rare platinum coin of 12 roubles value of 1839 issue was sold. By
the starting price of this lot (№ 36) - 40 to 50 thousand Swiss franks (CHF), or
22 -27, 5 thousand USD, the coin was sold for CHF 110 thousand or almost 60,5 thousand
USD.
At the next auction followed the previous one, UBS Gold and Silver
Auction, the coins of 3-rouble value (lot
1755) and 6-roubles value (lot 1754) of the year 1839 for CHF 38 thousand and
CHF 71 thousand respectively. Moreover, the cost does not include a commission
for the bidder (15%) and the tax (7,6%). Thus, the entire yearly set of three
platinum coins of 1838 took one of the Russian collectors almost 148 thousand
dollars at the start price of 33 thousand USD.
Some more imperial platinum coins were sold at the auction. So, platinum
coin of 6 roubles in value of 1842 года (lot 1757) was sold for CHF 29.000 ($16.000),
and a coin of 12 roubles in value of 1841 (lot 1756) was sold for CHF 40.000
($22.000).
And platinum coining was back in almost 150 years.
On October 1974 the International Olympic Committee at its session in
Vienna assigned Moscow as the place to hold Games of ХХII Olympics. During
arrangement events to the Olympic Games upon the initiative of the committee
organizing games of the Ministry of Finance of the USSR and Foreign Trade Bank
of the USSR, a big «monetary» program was developed. One of its purposes was
popularization of Olympic symbols of peace and sports, while another objective
included fundraising events to finance events of sports Olympic symbols of
peace and sports, while another objective included fundraising events to
finance events of sport holidays.
The program of Soviet Olympic Program provided among others issue of
platinum coins of 150 roubles value. And the program drew attention of
numismatists. And such an interest was quite obvious since in Olympic monetary
programs a platinum coining was proposed. And finally, coins in the
denomination of a rouble and over were first issued in Soviet Union in
compliance of the high monetary international proof standard (technology of
issuing coins with mirror surface and matte engraving).
Platinum coins of 150 roubles denomination of five types in the face were issued by the Leningrad Mint.
The topics were related to the history of ancient Olympiads. ХХII Olympiad
became a historical epoch. And numismatists have in the collections memorable
coins created by medalists of monetary art. Since 1988 issue of platinum coins
became popular.
|
