Platinum coin
Platinum coins are coins that are largely made of platinum . They were only used as a means of payment in Russia in the 19th century and were currency coins , but are only minted today for collectors and investors ( investment coins ).
history
In the past, platinum did not play a role in coin production . It was even considered by the Spanish as a waste product from gold production . They thought it was "unfinished gold". Only in Russia under Tsar Nicholas I (1825–1855) was it used for the issue of regular circulation coins . In the period from 1828 to 1845, 3, 6 and 12 pieces of platinum rubble , also called platinum ducats, were minted. With the coin ukase (ukase = decree) of April 24th (May 6th) 1828, the tsar issued the issue of 3 silver rubles ("white ducats") from platinum coins. The pieces should be the size of the silver 25-kopeck coins and, since the specific weight of platinum is almost twice as high as that of silver, their weight alone cannot be confused with them.
The weight of the coins of 2 zolotniki 41 doli (1 zolotnik = 4.265 g, 1 dolej = 0.044 g) is indicated on the mint, as well as the note "pure Ural platinum". So the 3 ruble coins weigh 10.35 g and one ruble represents 3.45 g of "pure Ural platinum". Since a silver ruble contains 18.0 g (4 solotniki 21 Doli) silver, the ratio to silver has been set at approx. 5.2 to 1 (today it is over 100 to 1). With ukas of November 30th (December 12th) 1829 double ducats of 6 silver rubles followed and with ukas of September 12th (24th) 1830 quadruple ducats of 12 silver rubles.
These coins correspond in size to the 50 kopeck or 1 ruble silver coins. Initially, however, the platinum coins were not allowed to be used in foreign trade. Since they were unpopular with the population because of their inconspicuous color (they were called Serinkie, "gray"), the export ban was lifted in 1830. The platinum coins all came back to Russia from trade to the east, since the tea-exporting countries could not do anything with the metal.
Only the farmers in the country liked to keep their savings in the form of platinum rubles under the stove. After a fire in the farmhouse, the coins could be recovered undamaged from the ashes because of their high melting point. Since practically the entire Russian platinum production was minted, the platinum coins now served as a source of supply for this metal in Europe. In March 1845, further export of the platinum coins was prohibited and re-importation was only allowed for four months. In June 1845 it was announced that no more platinum coins would be minted and that those still in circulation would only be exchanged for gold and silver coins or deposit notes in the next six months . The total issue was around 1.4 million coins. The Russian platinum coins, like all early platinum products, were still made by sintering because platinum has such a high melting point.
The Russian rubles were de facto the only platinum coins that a state has ever issued as regular circulation coins. All other known platinum coins and medals are used for collecting or investment purposes, even if they are valid currency in the respective issuing country. Today, special coins for z. B. 150 rubles from Russia and especially bullion coins made of platinum. Examples are the Platinum Eagle from the USA, the Platinum Maple Leaf from Canada, the Platinum Koala from Australia or the Platinum Noble from the Isle of Man. So-called Novodel coins could be made in the St. Petersburg mint as replicas of original stamps on request for collectors until 1890. Other platinum coins include medals, modern platinum discounts for coins for collectors, and sample coins.
Coin counterfeiting based on platinum
A very interesting and largely unknown aspect is contemporary counterfeiting of valid gold coins in the 18th and 19th centuries. Since platinum is similar in weight to gold, but was much cheaper in price (at the beginning of the 18th century only 1/5 of the gold price ), it was ideally suited for counterfeiting.
A core made of a copper-platinum alloy or a platinum core was simply coated with a thin layer of gold. In this way, the density and weight of the counterfeit gold coins could be achieved almost exactly. Mainly these forgeries were made by the staff of the mints in order to enrich themselves from the resulting gold surplus. The gold-plated platinum pieces were then placed on the market along with the regular gold coins of the same type.
In 1758 z. B. the Spanish royal family prohibited the platinum trade by decree. In order to prevent smuggling and counterfeiting, the supposedly "worthless" metal should simply be dumped in the sea. Spanish coins and French louis d'or in particular fell victim to contemporary counterfeiters, as did English and Mexican coins. With the rapid rise in the price of platinum and the rise in the price of gold, however, platinum became increasingly uninteresting as a counterfeit material in the last quarter of the 19th century.
literature
- Willy Fuchs: Platinum coins and medals 1975
- B. Koehne: Journal of Coin, Seal and Heraldry 1845; P. 352 and 353
- Alexander von Humboldt, Samuel Heinrich Spiker: Correspondence 2007; ISBN 9783050042831