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Soviet Union 1988 Transferable Ruble International Bank For Economic Cooperation

 
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Author Previous TopicReplies: 8 / Views: 348Next Topic  
Valued Member
Canada
121 Posts
 Posted 05/21/2022  11:13 pm Show Profile   Bookmark this topic Add Diverdude to your friends list Get a Link to this Message
Here's a little treasure I came across, a Soviet Union 1988 Transferable Ruble commemorating the 25th Anniversary of the International Bank for Economic Cooperation. Made of copper-nickel and only 250 Proof copies made. Anyone have any other info or experience with these?


Valued Member
United States
243 Posts
 Posted 05/23/2022  01:36 am  Show Profile   Bookmark this reply Add captainmandrake1 to your friends list Get a Link to this Reply
It commemorates the convertible ruble, a monetary unit that was used to conduct international trade transactions between the members of COMECON. This monetary unit was supposedly back up by about .94 grams of gold, although it could not be redeemed for gold. The unit existed only on bank ledgers, and did not have any material form as coins or banknotes. In the late 1980s, Gorbachev cancelled the use of the convertible ruble, leaving holders of the currency high and dry. The bank still exists, however, although its capital is in euros and its membership has declined because of the Russian-Ukrainian conflict, with the Czech Republic, Bulgaria, Poland, Romania and Slovakia quitting in order to prevent the bank from being used by Russia to obviate international sanctions against the Russian Federation. This leaves Russian, Vietnam and Mongolia as the remaining members. The token was minted on the same blanks used for other commemorative rubles of the USSR.
Valued Member
Canada
121 Posts
 Posted 05/23/2022  1:22 pm  Show Profile   Bookmark this reply Add Diverdude to your friends list Get a Link to this Reply
Any idea of the worth of the coin as a collectible item?
Valued Member
251 Posts
 Posted 05/23/2022  4:36 pm  Show Profile   Bookmark this reply Add Grinya to your friends list Get a Link to this Reply
In this "former proof" grade it costs around $10-15. The mintage is more than 10 000 according to the other source, where do you take an information about 250?
Valued Member
Canada
121 Posts
 Posted 05/23/2022  9:47 pm  Show Profile   Bookmark this reply Add Diverdude to your friends list Get a Link to this Reply
I got my info on this token from two sites:
Numista: https://en.numista.com/catalogue/ex...ia57216.html
Collect Prime: https://collectprime.com/item/trans...8507bdd143bf
They both say only 250 issued/minted. What's your source?
Valued Member
251 Posts
 Posted 05/24/2022  03:18 am  Show Profile   Bookmark this reply Add Grinya to your friends list Get a Link to this Reply
Thanks

I don't have any official sourse, also some forums.
But taking into account the amount of such tokens available on the market I doubt that 250 is real figure.

BTW, CollectPrime is just a site that has stolen the Numista database, so this is not credible sourse:)
Edited by Grinya
05/24/2022 03:20 am
Valued Member
Canada
121 Posts
 Posted 05/24/2022  07:38 am  Show Profile   Bookmark this reply Add Diverdude to your friends list Get a Link to this Reply
If Collect Prime is using Numista's database it doesn't mean it's not credible, it just means it's not an independant source. If anything I would say those other non-disclosed forums lack credibility. Why would I doubt the research of Numista over some anonymous post on another forum? Would those other tokens be forgeries or knock-off copies if they are so widely available?
Valued Member
251 Posts
 Posted 05/24/2022  2:42 pm  Show Profile   Bookmark this reply Add Grinya to your friends list Get a Link to this Reply
Numista is wiki-style resource, so there is no big difference between it and some forum. Anyone could add mintage there
I couldn't find any credible information regarding mintage of this token online, but 250 is unrealistic... I also doubt that someone would fake it.

It seems that these tokens were distributed in 3 ways: in boxes, in capsules and in plastic bags, so, there is a possibility that 250 is about mintage of box variant only...
Edited by Grinya
05/24/2022 2:42 pm
Valued Member
Canada
121 Posts
 Posted 05/24/2022  7:39 pm  Show Profile   Bookmark this reply Add Diverdude to your friends list Get a Link to this Reply
Okay, thanks for your perspective.
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