18th Century Copper Coin-World's Largest

The Goldberg sale was a couple of weeks ago, but I missed this story and found it interesting:



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World's largest copper coin in Goldberg sale


The Sestroretsk ruble of 1771, the world's largest round copper coin, is one of the highlights of the Ira and Larry Goldberg Pre-Long Beach Sale, to be held May 28-31 in Long Beach, Calif.

The Setroretsk ruble is uncirculated and estimated at $50,000 to $75,000.  Throughout numismatic history, the most interesting and unusual issues are often the result of the economic necessities of war.

In order to finance her campaigns, Catherine II instituted an issue of paper assignats in 1769. These were to be backed by and fully exchangeable for copper currency and it was proposed that a copper ruble could be more efficiently produced than the equivalent of 20 five-kopeck pieces. It was also surmised that not too many holders of the paper assignats would ask to exchange them for the large and heavy copper coins.


Full article in World Coin News:
http://www.worldcoinnews.net/Defaul...1783Articles