Soviet Chervonets Detail

About Soviet Chervonets Detail

See Russian Chervonets entry. The 1923 chervonets was part of Lenins New Economic Policy, which partially restored market mechanisms. The coin featured a farmer and worker. Most were melted when Stalin abandoned the NEP. The chervonets was backed by 25 percent gold and 75 percent foreign exchange and goods. The Soviet Union returned to a non convertible ruble for most of its existence. The 1923 chervonets is a rare and historic Soviet coin.