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The 15 ruble gold coin of 1897 appeared during the reign of Emperor Nicholas II. Its issuance was a direct consequence of the monetary reform carried out by Sergei Yulyevich Witte in 1895–1897. The main goal of the reform was to introduce gold monometallism in Russia, modeled after Great Britain, to strengthen the financial system.
The 15 ruble gold coin of 1897 appeared during the reign of Emperor Nicholas II. Its issuance was a direct consequence of the monetary reform carried out by Sergei Yulyevich Witte in 1895–1897. The main goal of the reform was to introduce gold monometallism in Russia, modeled after Great Britain, to strengthen the financial system.
Plans to reform the monetary system were being developed as early as the 1880s. By that time, the empire's finances were in an unstable state. In circulation were gold coins, used mainly by merchants and nobles, silver coins, and the bulk of the currency—paper assignats. The reform was intended to equalize the exchange rate between the paper and gold ruble.
Initially, a gold-silver bimetallism option was considered, but this idea was abandoned. Ultimately, the reform led to the stabilization of the financial system, which remained stable until the start of World War I, and it gave collectors new types of coins.
| Characteristic | Value |
| --- | --- |
| Denomination | 15 rubles |
| Year of minting | 1897 |
| Material | Gold |
| Fineness | 900 |
| Weight | 12.9 g |
| Mint | Saint Petersburg |
The 15 ruble coin of 1897 has clearly defined parameters that are important for its identification. The entire mintage was produced at the Saint Petersburg Mint.
According to the monographic sources of numismatist Uzdennikov, there is evidence that another 12 examples of this coin were issued in 1898.
The coin's design adheres to the imperial standards of the time and contains all the necessary information about its origin and value.
Numismatists and historiographers often call the 15 ruble coin of 1897 an 'Imperial.' This name is due to the fact that its technical specifications (weight 12.9 g and 900 fineness gold) fully correspond to the 10 ruble coin from the time of Emperor Alexander III, which was officially named the 'imperial.'
During Witte's reform, a denomination of one-third occurred. The face value of Nicholas II's gold coins was one-third higher than that of Alexander III's coins of the same weight. For example, a 5 ruble coin of Alexander III weighed 6.45 g, while a 5 ruble coin of Nicholas II weighed 4.3 g. These new, lighter coins were popularly nicknamed 'wittekinders.'
Officials feared that such a denomination could cause public unrest, but this did not happen. The financial system was strengthened, and calculations stabilized.
| Portrait type (occurrence) | Description |
| --- | --- |
| 'OSS' (1897) | 'OSS' behind the neck cut |
| 'SS' (1897) | 'SS' behind the neck cut |
| 'ROSS' (1897) | 'ROSS' behind the neck cut |
| 'Small head', wider profile (1897) | 'ROSS' behind the neck cut |
| 'Small head', narrower profile (1897) | 'OSS' behind the neck cut |
Although the coin was minted for only one year, several varieties exist. In the past, collectors distinguished two main types based on the number of letters at the neck cutoff (two or three), as well as the shape of the emperor's forelock (short or long). However, modern cataloging is more detailed.
Modern literature identifies five main types of the obverse portrait, which differ in the details of the inscription and the emperor's profile.
The price of the 15 ruble coin of 1897 shows steady growth. Two years ago, a specimen in good condition could be purchased for $650–$700, while coins of better quality cost around $750. A year ago, the price rose to $850.
As of February 2022, the value of a coin in the quality of the specimen shown (mint luster, without significant defects) reaches $1100–$1200. There have been sales of unslabbed coins for as much as $1300. Slabbed specimens (certified by grading companies) are even more expensive: a coin in MS 62 condition sold for $1800, and in MS 63, it exceeded $2000.
This dynamic makes the coin a promising investment. It is in demand not only among collectors but also among people looking for a reliable way to preserve capital. It is often purchased as a valuable gift for a wedding or anniversary, sometimes as part of a complete set of Nicholas II gold coins (5, 7.5, 10, and 15 rubles).
