Coins in our world: RUSSIAN COINS Soviet coins

In 1917 the Great October Socialist Revolution had happened which handed power to the workers and peasants. The Bolshevik Party did not repeat the fatal mistake of the Paris Commune 1871 has left the bank in the hands of the bourgeoisie. One of the first public institutions engaged people in revolt was the Central State Bank in Petrograd. In December 27, 1917 was made public decision of the Central Executive Committee of the Council of Workers, Peasants and Soldiers' Deputies on the nationalization of all banks in the country. The Soviet state has inherited from the old regime completely ruined finances.

On June 1, 1918 to January 1, 1921 wages increased 24.5 times, while the purchasing power of the ruble decreased 188 times. The real cost of the most expensive banknote of 10 000 roubles was only 59 kopeeks.

After defeating the internal and external enemies, the Soviet government immediately returned to the issue of monetary reform. Already in March 1921, the People's Commissariat of Finance has decided to start production of silver coins. In April Labor and Defense Council decided to restore the Petrograd Mint. In the same year, 10, 15, 20, 50 kopeeks and the ruble equal in quality corresponding to the nominal imperial

Russia

were struck. Type front side of these coins was the same: State Emblem of the Russian Soviet Federative Socialist Republic (RSFSR) surrounded by the slogan "Workers of all countries unite!" 50 kopeeks and the ruble had similar pictures back: five-pointed star, wreath framed, double (in figures and words) of the denomination and the date. Type and the back of the 10, 15 and 20 kopeeks was the same: the denomination and date within wreath, above - the little star, surrounded by rays. In August 17, 1921, Lenin saw the newly minted ruble, recorded: "1921. Silver rouble save".

Rouble and 50 kopecks RSFSR were issued in 1921 -1922 years. 10, 15 and 20 kopeeks were issued in 1921 - 1923. All these coins were not put into circulation in the years of their coinage due to the need to create a cash reserve sufficient to meet the needs of the market. In November 13, 1922, speaking at the IV Congress of the Communist International, Lenin raised the issue of strengthening the Soviet rouble: " I think you can consider the famous Russian rouble, if only because the number of roubles now exceeds quadrillion. We manage for a long time, and then permanently stabilize the ruble - so we won. Then all these astronomical figures, all these trillions and quadrillions are nothing. Then we can put our economy on a sound footing and on solid ground to develop further".

In November 1922, the Soviet government decided to mint gold coins. Following this decision in 1923 gold pieces (chervonets) were produced and used (mainly for payments to other states). Chervonets of 1923 corresponded to their content of pure gold before the Revolution to 10 rubles. Drawing and lettering front 10 roubles were the same as that of the silver coins of the RSFSR, on the reverse side portrayed peasant were designated denomination ("one chervonets") and date. Markings were by Slavic script.

Silver coins RSFSR 1921 -1923 years were put into circulation in 1924. In the same year there was production of silver and copper coins of the

Union of Soviet Socialist Republics

Rouble minted only in 1924 and fifty kopeeks (poltinnik) minted 1924-1927. They had a common type face: state emblem of the

USSR

and the dignity of the designation ("One ruble", "One poltinnik"), around the slogan "Workers of the countries, unite!" On the back side of the rouble were images of the worker, peasant hugging him and pointing to the rising sun. On the back of poltinnik a smith was depicted.

Examples of coins of this period you can purchase: