In our final World Coin of the Week preview for 2016 we feature a rare and
historically important Russian Ducat of Peter the Great with a
Latin Inscription. Peter Alexeyevich (later
earning the epithet “the Great”) ruled Russia for over 40 years, forged the
Tsardom into an empire and modernized the traditionalist and medieval society.
Peter was successful in fomenting a cultural revolution after he toured Prussia,
the Dutch Republic, England and Austria (as well as other places). He believed
Russia’s future as a world power hinged on a modern and European-oriented
society as well as a rationalist system of government. Peter expanded the
territory through war, most notably in his attempt to gain a Baltic port an
effort known as the Great Northern War against Sweden. After a disastrous first
sortie, Peter’s allies held the Swedish army’s attention while Peter founded
St. Petersburg in recently captured territory. The Swedish King, Charles XII,
then attempted to invade Russia, a ruinous idea that would be repeated by
Napoleon and Hitler. Peter was able to halt the Swedish advance, implementing a
scorched earth policy to deprive the enemy of supplies. The Swedes faltered in
the brutal Russian winter and were defeated soon after. Throughout most of
Peter’s rule Russia was at war, in an effort to expand his territory and gain
an access to seaports. The later years of Peter’s reign were marked by
modernization in Russia.
This coin of Peter the Great is one of just a handful of Russian coins
with a Latin legend replacing the standard Cyrillic. Following the Russian
victory against the Swedish, Peter desired a more convenient method of foreign
payments, and thus the Latin Inscription Ducat came into being. Speculation
points to famed medalist Philipp Henrich Muller as the engraver for the dies of
this series. These pieces were equal in fineness of metal and weight to the
Netherlands Ducat, which was a widely used currency in international trade and
banking.
The obverse design features a right facing armored bust of Peter I, with
the legend: “Petrvs Alexii. I. D. G. Rvss.” This legend is continued on the
reverse: “Imp M. Dvx. Moscoviae.” This reads in English as: “Peter Alexeyevich
I, by the Grace of God, Ruler of Russia, Grand Duke of Moscow.” The reverse design
features the regal double-headed eagle, used as an icon of the Tsardom and
later as the official Imperial symbol. Each of the eagle’s heads is crowned,
and there is a third crown above the design. The emblem of Moscow displaying
St. George riding down and spearing a dragon engulfs the eagle’s chest. The
left claw holds a scepter, representing monarchial power, and the globus
cruciger in the right claw demonstrates the religious authority of the Tsar and
later the emperor. This coin offers a rare and distinctive look into Russian
history and is a true numismatic treasure.
While we are no longer accepting consignments for our New York
International Auction, we are accepting consignments of world and ancient coins
and world paper money for our May 2017 Collector’s Choice Online Auction and
August 2017 ANA Auction as well as Chinese and other Asian coins and currency
for our April 2017 Hong Kong Showcase Auction. Time is running short, so if you
are interested in consigning your coins and paper currency (whether a whole
collection or a single rarity) be sure to contact one of our consignment
directors.
