NGC
Certifies Unique Russian 1755 Pattern 20 Rouble By
NGC on Friday, September 19, 2008
Legendary
rarity is among the most valuable European coins in existence.
NGC has recently certified
a small group of Russian coins from the Grand Duke Mikhailovich
Collection. Included among them was the unique Russian 1755
Pattern 20 Rouble, a legendary rarity believed to be among
the most valuable European coins in existence. These important
coins are scheduled to be sold by St. James’s Auctions
in London on November 6, 2008.
Although it has not appeared
publicly in nearly six decades, the 1755 20 Rouble frequently
gets mention as one of the most important European coins ever
struck. As part of Russia’s effort to modernize and
compete with Europe, it underwent a coinage reform in 1755
designed to permit its coins to circulate alongside those
of England, France and the Netherlands. Produced for general
circulation were gold five-rouble and ten-rouble coins. Also
created solely in pattern form was this single gold piece
valued at twenty roubles. The highest valued coin of the Imperial
period, it was never adopted for circulation and remains unique.
Ken Krah, NGC Vice President and head of World
coin grading reflects that, “Seeing the 1755 Russia
20 Rouble is a once-in-a-lifetime opportunity. I handle many
rarities every week at NGC, but grading this unique and important
coin still inspired that special excitement. It’s truly
a privilege to be able to grade this magnificent coin.”
Nearly mint state, it has been authenticated and graded by
NGC as AU-58. This amazing specimen is also cataloged and
plated in several references, most notably in Severin’s
Gold and Platinum Coinage of Imperial Russia 1701 to 1911,
where it appears as number S-190.
The 1755 20 Rouble coin came to reside in
the collection of Grand Duke George Mikhailovich of Russia
(1863-1919), a first cousin of Emperor Alexander III. As the
third son and fourth child of noble birth, his royal duties
were mostly ceremonial. He was a voracious collector, building
one of the finest collections of Russian coins and medals,
and he also served as director of the Alexander III Museum.
A portion of the Grand Duke’s collection
was scheduled to be sold by his descendents in October, 1939.
That sale was cancelled following the outbreak of war in September,
and it was subsequently sold during Christie’s sale
of the Grand Duke Mikhailovich Collection in London in 1950.
The 20 Rouble, which was featured in that sale, has not appeared
on the market since.
“I can only find this one appearance
of this coin at auction in 1950. It’s very unusual to
encounter a legendary coin that has only ever appeared at
auction once in it’s entire history, and there’s
a real likelihood that we may never see it offered again in
our lifetimes,” notes Steven Fenton, owner of St. James’s
Auctions and Knightsbridge Coins. He further comments, “To
me it’s a trophy piece, the greatest Russian coin.”
The November 6, St. James’s auction
includes three other important Russian coins from the Grand
Duke Mikhailovich Collection: a 1726 Catherine I, Sev-106B
2 Rouble, graded NGC MS62, a 1762 Peter III, Sev-247, 10 Rouble
NGC AU53, and an important 1836 Russian 10 Rouble gold pattern,
NGC MS62. These coins and the 1755 20 Rouble are described
in a stand-alone 4-coin catalog, written in both English and
Russian. The body of Novemeber 6 St. James’s sale also
includes other important Russian rarities and many world coins.