Russian Chervonets

About Russian Chervonets

Peter the Greats gold coin, modeled on the Hungarian ducat and Dutch ducat. Featured the tsars portrait. The chervonets was intended to integrate Russia into European trade networks. Over 100 years passed between the first and second mintage. The Soviets briefly revived the chervonets in 1923 as a gold backed currency to gain international credibility. The 1975 to 1982 Soviet chervonets were bullion coins sold to foreign collectors.