Gold rub

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Learn more. Rubles were parts of the grivna or pieces of silver with notches indicating their weight. Each grivna was divided into four parts; the name "ruble" came from the word "cut" because the silver rod weighing 1 grivna was split into four parts, which were called rubles. Others say the ruble was never part of a grivna but a synonym for it.

This is attested in a 13th-century Novgorod birch bark manuscript , where both ruble and grivna referred to grams 6. Therefore, the word ruble means "a cast with a seam". The ruble was the Russian equivalent of the mark , a measurement of weight for silver and gold used in medieval Western Europe. The weight of one ruble was equal to the weight of one grivna. Since the monetary reform of , one Russian accounting ruble became equivalent to silver Novgorod denga coins or smaller Muscovite denga coins or even smaller polushka coins.

Exactly the former coin with a rider on it soon became colloquially known as kopek and was the higher coin until the beginning of the 18th century. Ruble coins as such did not exist till Peter the Great, when in he reformed the old monetary system and ordered mintage of a gramme silver ruble coin equivalent to new copper kopek coins. Apart from one ruble and one kopek coins other smaller and greater coins existed as well.

Both the spellings ruble and rouble are used in English. The form rouble is preferred by the Oxford English Dictionary , but the earliest use recorded in English is the now completely obsolete robble. The form rouble probably derives from the transliteration into French used among the Tsarist aristocracy. There are two main usage tendencies: one is for North American authors to use ruble and other English speakers to use rouble , while the other is for older sources to use rouble and more recent ones to use ruble.

Neither tendency is absolutely consistent, and there is also the obvious danger of confusion with rubble. The Russian plurals that may be seen on the actual currency are modified according to Russian grammar. In several languages spoken in Russia and the former Soviet Union, the currency name has no etymological relation with ruble. Especially in Turkic languages or languages influenced by them, the ruble is often known also officially as som or sum meaning pure , or manat from Russian moneta , meaning coin.

Soviet banknotes had their value printed in the languages of all 15 republics of the Soviet Union. From the 14th to the 17th centuries the ruble was neither a coin nor a currency but rather a unit of weight. The most used currency was a small silver coin called denga pl. There were two variants of the denga minted in Novgorod and Moscow. The weight of a denga silver coin was unstable and inflating, but by one Novgorod denga weighted 0.

Thus one account ruble consisted of Novgorod or Moscow dengi 68 g 2. In the 17th century the weight of a kopek coin lowered to 0. In — tsar Alexis I tried to carry out a monetary reform and ordered to mint silver one ruble coins from imported joachimsthalers and new kopek coins from copper old silver kopeks was left in circulation.

Although around 1 million of such rubles was made, its lower weight 28—32 grams against the nominal ruble 48 g led to counterfeiting, speculation and inflation, and after the Copper Riot of the new monetary system was abandoned in favour of the old one. In Peter the Great finally reformed the old Russian monetary system, minting a silver ruble coin of weight The amount of silver in a ruble varied in the 18th century. Additionally, coins worth over a ruble were minted in gold and platinum.

On 17 December , a new standard was adopted which did not change the silver ruble but reduced the gold content to 1. With the outbreak of World War I , the gold standard peg was dropped and the ruble fell in value, suffering from hyperinflation in the early s. With the founding of the Soviet Union in , the Russian ruble was replaced by the Soviet ruble. The pre-revolutionary Chervonetz was temporarily brought back into circulation from to Silver 20 kopeks were introduced in , followed by copper 10 kopeks minted between and , and copper 3 kopeks introduced in Between and , platinum 3, 6 and 12 rubles were issued.

This was followed by another in The gold coinage was suspended in , with the other denominations produced until the First World War. Its manufacture was being prepared at the Saint Petersburg Mint during the brief Interregnum of , but it was never minted in numbers, and never circulated in public. Its existence became known in in foreign publications. In , during the reign of Catherine the Great , the Assignation Bank was instituted to issue the government paper money.

It opened in Saint Petersburg and in Moscow in In , Assignation rubles were introduced for 25, 50, 75 and rubles, with 5 and 10 rubles added in and ruble in