101283 | RUSSIA. "5% interest bearing 100 ruble note" silver Coin Purse.

$795Price
  • Details

    101283  |  RUSSIA. Silver Coin Purse. Issued circa 1900. Engraving imitating 5% interest bearing 100 ruble note (71x57mm, 87.40 g, 12h). By "ИФ."

     

    All elements engraved: imperial double eagle seal between two smaller seals reading "СЕРIЯ" and "IN÷;" below, "БИЛЕТЪ / ВНУТРЕННЯГО 5 СЪ ВЫИГРЫШАМИ ЗАЙМА / НА КАПИТАЛЪ ВЪ СТО РУБЛЕЙ / ГОДОВОЙ ДОХОДЪ ПЯТЬ РУБЛЕЙ" (ticket for a 5% domestic loan valued at 100 rubles and an annual increase of 5 rubles) in four lines; below, corrupted German intended to read "OBLIGATION DER ZWEITEN RUSSISCHEN 5% INNEREN ANLEIHE / MIT PRAEMIEN–VERLOOSUNGEN / Ein Hundert Rubel;" stylized "100" behind corrupted German text and script; pseudo-legend border around / Ornate "200000." Hallmarks: "ИФ" and "84 silver" on each side.

     

    Overall, choice extremely fine. Lightly toned. Still in working order, with complete inner lining in tact and three separate pouches for holding coins. Quite rare, especially this attractive, and a very interesting numismatic and notaphilic piece of art.

     

    Monetary changes in the mid-1890's resulted in an influx of gold coinage into the Russian economy—a shift for a population that had grown accustomed to fiat for larger transactions. As such, the usage of both gold and silver coinage in transactions became a more ubiquitous aspect of life around the turn of the century. Owing to this influx of hard currency, a more convenient manner of carrying change became necessary, thus creating the usefulness of coin purses (кошель). Since they were now en vogue, various silversmiths tried their hand at creating a product for the consumer, with one design in particular becoming rather popular with the Russian populace. Mimicking the layout of a loan "ticket" from 1864, these silversmiths engraved iconography that had the appeance of paper currency, though these "notes" from the past were actually bonds meant to raise funds for the completion of the vital rail line between Moscow and the Black Sea. Over time, the tickets would earn their bearer additional funds, but to add more intrigue and excitement, winning serial numbers were drawn twice per year, giving the bearers a chance to earn many times what they could expect during the normal duration of the bond. The largest such prize was some 200,000 rubles, accounting for the "200,000" on the reverse of this coin purse. In essence, these purses were meant to capture the desire of the bearer winning—against all odds—a lottery that could see them become instantly rich.

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