100 rubles 1997 – Sergei Witte – PCGS PR70 DCAM

100 rubles 1997 – Sergei Witte – PCGS PR70 DCAM – 100th anniversary of Witte’s Emmisions Protection Law –

This 1997 edition was certified by PCGS with the highest grading PR70 Deep Cameo (DCAM), making it the only one currently available from PCGS.

Front

Illustration of double-headed eagle, inscriptions in the circle: “100 Rubles, 1997” at the top and “Bank of Russia” at the bottom. The metal identification, the alloy grade, the purity of the precious metal and the mint mark are on the bottom.

Back

Portrait of S. Witte, to the left of it – images of the scroll with the three-line inscription: “The Emission Act of 1897”. Below you can see the state credit bill of 1898 worth 100 rubles and two coins, below – the signature of Witte.

History

The Emmision Protection Law was necessitated by the instability of the monetary system, which hindered the development of Russia’s domestic and foreign economic relations and the inflow of foreign capital. Preparations for the reform began in the 1880s. The Russian Finance Minister S.Y. Witte proposed the introduction of gold circulation in a report to the tsar in 1895. By 1897, through tax increases, gold mining and purchasing, and foreign borrowing, the State Bank had created a gold stock of 1.095 million rubles, almost equal to the amount of banknotes in circulation in the country. According to the decree “On the minting and circulation of gold coins” of January 3, 1897, imperial and semi-imperial gold coins were minted with a new face value of 15 rubles and 7.5 rubles, respectively, but the ruble was devalued by 1/3. At November 4, 1897, 5-ruble gold coins with a fine gold content of 3.87 g were introduced, and December 11, 1898, 10-ruble coins with a fine gold content of 7.74 g were introduced. The gold ruble was considered the unit of currency. On August 29, 1897, Tsar Nicholas II issued a decision on the issuing operations of the Russian State Bank, which was given the right to issue banknotes. The decision of March 27, 1898 retained the silver and copper money introduced by E. Kankrin’s reform. The reform changed the structure of money in circulation. This was followed by a period of a very stable financial system in Russia.

Details

Year: 1997
Face value: 100 rubles
Embossing Quality: Proof
Metal: Gold
Fineness: 999/1000
Fine weight: 15,55g
Diameter: 30.00mm (±0.35)
Thickness: 1.70mm (±0.20)
Circulation: 1.000
Mint: Moscow Mint (MMD)
Edge: 240 corrugations
Special feature: PCGS PR70 Deep Cameo (top pop!)