A coin of 37 rubles 50 kopecks is a valuable masterpiece of Russian numismatics with a non-standard coin denomination
The coin of 37 rubles 50 kopecks was indeed minted in the Russian Empire in 1902 in a limited edition of 236 copies. This coin is a unique masterpiece of world numismatics, for which today collectors are ready to shell out a lot of money at auction. What is this unusual monetary unit and what real historical events led to its birth?
The coin of 37 rubles 50 kopecks is made of 900-carat gold, its front side is decorated with the image of the face of the Russian Tsar Nicholas II and the inscription “B. M. NICHOLAS II EMPEROR AND AUTONORM OF ALL RUSSIA”, and the reverse – the coat of arms of the state with the inscription “37 RUBLES 50 KOPEEK, 1902 100 FRANKOV”. The diameter of this coin unit is 33.5 mm, and its weight is 32.26 grams.
History of the coin 37 rubles 50 kopecks
The coin of 37 rubles 50 kopecks has a remarkable history, but the exact reason for its birth has not yet been established. Most experts in the field of numismatics adhere to the version that the minting of a gift coin with an unusual denomination was the desire of the top leadership of the Russian Empire to strengthen friendly ties with its strategic ally, France. And according to another popular numismatic theory, a coin of 37 rubles 50 kopecks was supposed to become the official means of payment for international monetary settlements in Russia.
In favor of the first theory is the fact that the coins appeared on the eve of the arrival in St. Petersburg of an impressive delegation of the French Republic, headed by President Emile Loubet, in May 1902. It was planned to give minted gold rubles to high officials who arrived from abroad to participate in official negotiations, but for unknown reasons, the last Russian emperor suddenly decided not to indulge foreigners with generous presents.
Nevertheless, the St. Petersburg Mint has already fulfilled the order of the monarch and produced the indicated number of copies of the gold currency. With minted rubles, Nicholas II, as befits the all-powerful ruler of a vast empire, acted at his own discretion.
The king gave all the coins to close members of his family, namely:
- 200 – wife of the queen;
- 25 – cousin uncle, Prince George;
- 10 – to his uncle, Prince Vladimir.
Another banknote was minted two years later for the Hermitage treasury. And it is still kept in the collection of valuables of the most famous Russian museum located in St. Petersburg.
How much does an old coin cost today 37 rubles 50 kopecks
These limited-edition coins are of great value to collectors these days. They invariably cause great excitement at the auction and find new owners. The cost of copies put up for sale usually ranges from 100,000 – 150,000 US dollars.
Here are the results of the last five trades as of early 2022:
- auction Künker Numismatik AG No. 359 (January 26, 2022) – 105,000 Euros;
- Stack’s Bowers & Ponterio auction (October 14, 2021) – $115,000;
- Bruun Rasmussen Auction No. 897 (November 2-3, 2020) – 120,847 Euros;
- MDC Monaco auction (October 31, 2020) – 127,000 Euro; Auction Editions V. GADOURY (October 31, 2020) – 120,000 Euro.
A coin of 37 rubles 50 kopecks, issued in 1902, has been in circulation for 120 years. A magnificent masterpiece of domestic numismatics today has great historical value and is a desirable possession for many collectors around the world.