Skip to comments.
New silver and gold coins
Central Bank of Russia ^
| 12/17/2012
| Central Bank of Russia
Posted on 12/17/2012 10:25:09 AM PST by Greysard
The Department of External and Public Relations of the Bank of Russia informs that on 17 December 2012 in the framework of the monetary program "Sochi 2014" Bank of Russia issues bullion coins dedicated to the XXII Olympic Winter Games 2014 in Sochi: 3 Rubles silver, gold nominal 50 and 100, with the year of issue "2012".
(Excerpt) Read more at cbr.ru ...
TOPICS: Business/Economy; Russia
KEYWORDS: coins; gold; silver
This is curious in several aspects. First, the coins are rectangular:
Second, new issues of bullion coins are not that frequent, and some FR readers may come across them at some point. They won't be issued in huge numbers, but the 3 and 50 Rubles coins will be minted in quantity 300,000 each, and the 100 Rubles coin will be minted in quantity 100,000. They will be around.
Third, this is a rare event for Russia to issue bullion coins. I am not an economist, but I suspect that only countries with a reasonably stable economy can do that. Note also that these coins are a legal tender in the country, and they can be traded everywhere because they have inherent value.
The coins are minted with satin finish (uncirculated.) The weight is in grams.
Here is the link to the original press release, translated by Google.
1
posted on
12/17/2012 10:25:17 AM PST
by
Greysard
To: Greysard
stable economy like South Africa or China?
2
posted on
12/17/2012 10:29:02 AM PST
by
babble-on
To: Greysard
To: Greysard
Not uncommon
Canada minted a whole bunch to commemorate the Vancouver Olympics and China did the same for the Olympics in Beijing
4
posted on
12/17/2012 10:39:30 AM PST
by
qam1
(There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
To: Greysard
What is their Tungsten content?
5
posted on
12/17/2012 10:48:06 AM PST
by
G Larry
(Which of Obama's policies do you think I'd support if he were white?)
To: G Larry
Precisely! Yes Sir, I am going to buy “anything” made and promoted from newUSSR...... NOT.
Have been hearing about alloy efforts between minimal gold and maximum tungsten with coins plating in gold to make it very difficult to know uless its run through a good metalurgical lab.
6
posted on
12/17/2012 11:07:21 AM PST
by
X-spurt
(Ted Cruz for President of the Republic of Texas)
To: Greysard
One troy ounce = 31.1 grams so that size Russian “coin” would be of interest to we gold bugs if the premium was not too high.
7
posted on
12/17/2012 3:58:49 PM PST
by
RicocheT
(Eat the rich only if you're certain it's your last meal)
To: RicocheT
If they are anything like the Moscow Olympic coins, it won’t be long before they are retailing at spot.
8
posted on
12/17/2012 5:53:31 PM PST
by
DeaconBenjamin
(A trillion here, a trillion there, soon you're NOT talking real money)
To: babble-on
stable economy like South Africa or China? Russia, like Canada, is pulling plenty of oil from the ground.
9
posted on
12/18/2012 2:55:19 AM PST
by
Does so
(Dims don't think ... they PLOT!)
To: Does so
and plenty of gold, more to the point. What unites the nations who mint gold coins, is: gold production
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson
