1832 CNB Czar Nicholas I Imperial Russia 3 Ruble Platinum NGC XF45 Very Rare!

  • $4,688.74

1832 CNB Czar Nicholas I Imperial Russia 3 Ruble or Rouble Platinum NGC XF45 Very Rare!.exception low Mintage!

THE WORLD'S ONLY CIRCULATING PLATINUM COIN - THE PLATINUM 1832 Russian 3 ROUBLES

A very rare1832 Russia 3 Roubles platinum coin, minted from Siberian ore, graded NGC XF45. Only 9 have been certified by NGC with 5 known better.

Obverse - Two-headed eagle with a crown above.
Reverse - Denomination; date.

Lettering:

2 ЗОЛ· 41 ДОЛ· ЧИСТОЙ УРАЛЬСКОЙ ПЛАТИНЫ *

* 3 *

РУБЛИ

НА СЕРЕБРО

1832

С.П.Б.

Translation:

2 zolotniks 41 dolyas (parts) pure Ural platinum

3 Rubles

Struck at the St. Petersburg Mint

Mintage- 65,746

In the entire 2700 year-old history of coinage, platinum has been used only once to produce coins intended for general circulation- the exper was done in Russia.

This is the story of those platinum coins.

In the early 1800’s after platinum's discovery, Several large deposits of ore were found in the cold Russian territory of Ural, Siberia. At that point in time, platinum had no real use outside of Spanish luxury goods like silverware made for nobleman. In order to make money (literally) from the newly discovered deposits, the Imperial Russian government decided to put the metal to use in the minting of coins.

In 1928, the Russian Empire started minting platinum coins in three denominations - 3 Roubles, along with much smaller quantities of 6 Roubles and 12 Roubles coins. While the 3 Roubles coin was intended to circulate, the 6 and 12 Rouble coins were mainly produced for the government to distribute as gifts to diplomats and wealthy collectors.

Unlike gold and silver coins, which are typically produced as an alloy with copper in order to increase the hardness of the metal, platinum was naturally hard enough that the coins could be produced in pure, unalloyed platinum (with trace amounts of other platinum rare group metals like palladium and iridium).

That hardness was the downfall of the platinum coin - the platinum roubles were so difficult and expensive to mint that the Russian government ultimately decided to cease production after little more than a decade, ending the series in 1845.

Russian Emperor Czar Nicholas I issued a decree demonetizing the coins and mandating that the public return them to the Mint to be melted down. Thus creating an instant rarity.