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Soviet and Russian Silver Coins have been issued since the late 1980s in denominations ranging from 3 rubles to 10 rubles. The most common form of these came out in response to Russia being selected to host the 1980 Olympics in Leningrad. The Supreme Soviets were so excited by this singular honor that they decided to have the Russian Mint strike a wide range of silver coins from 1977 to 1980 in commemoration of it. To give the coins more investor appeal and legitimacy, they issued them with legal tender status and face value. All of these were struck in 90 percent silver.
Soviet and Russian Silver Coins Background and History
Soviet and Russian Silver Coins come in two most popular denomination sizes. The five ruble silver coin is struck with .4824 troy ounces of silver. The larger 10 ruble silver coin possesses a more substantial .9636 troy ounces of the grey precious metal. Besides these official coins, the Russian Mint has struck a range of several commemorative coins which did not feature any legal tender status or actual face value. All of these coins were struck at either the Leningrad or Moscow Mints.
The 1980 Soviet Olympic games were something of a last hurrah for the mighty communists of the USSR. Many nations, including the United States, chose to boycott the international games that year. Yet despite this fact, over 200 world records were smashed at the games. These beautiful Soviet Russian silver coins show off the games in all of their glory. These coins make a lasting monument to an interesting era in fairly recent world history.
Soviet and Russian Silver Coins Physical Characteristics
Soviet and Russian Silver Coins were begun by the Soviet Mint and continued on intermittently by the Russian Mint after the collapse of the ill fated Soviet Union. By 1991, the Russians had regained control over their sovereign territory and destiny. They proceeded to strike the Yuri Gagarin Monument one ounce silver pieces in 3 rubles face value proofs that year. The coins were issued in either proof or brilliant uncirculated condition.
The front side of coins is called the “obverse” by numismatists. Soviet and Russian Silver Coins' obverse features the Russian coat of arms along with a globe beneath the Soviet star. There is also a prominent rising sun enveloped by ears of barley. Alongside the Soviet National Arms is the face value of the coin.
The coin “reverse” is the rear side of coins. Soviet and Russian Silver Coins have a reverse that changed according to the Olympic event being honored. Various Olympic events were featured and surrounded by the motto. Below these striking images the date appears.
Soviet and Russian Silver Coins come in three most common denominations of 10, 5, and 3 Roubles. The dimensions of the popular 5 ruble silver coins are as follows:
- Mass: 13.7 grams
- Diameter: 33 mm
- Thickness: 2.3 mm
- Content: .4824 troy oz silver
- Purity: 90.0% silver
Soviet and Russian Silver Coins Pricing
Soviet and Russian Silver Coins were issued in a range of face values from 3 rubles to 10 rubles. This amount was a fairly generous denomination for silver coins at the time they were issued. The silver content still made their intrinsic value significantly greater. Russians would not willingly elect to trade these coins for their mere face value. The intrinsic value of the pieces is derived from the spot price of silver which they contain. As with all commemorative silver coins, there is a premium to the bullion coins which helps to cover the expenses of minting and distributing such coins.
Such intrinsic value to the coins provides them with the basis for their real market value. Market value matters hugely since it allocates the actual coin value to the portfolio which contains them. The market prices of silver coins goes up and down on a daily market trading basis along with world silver prices as they gyrate back and forth. You can witness this interesting price movement in real time by surfing over to our homepage.
Can IRA Accounts Contain Soviet and Russian Silver Coins?
Soviet and Russian Silver Coins are unique enough to make you wonder if the IRS will permit you to include them in your IRA retirement horde. They are the ones who decide on whether or not any given world bullion silver or gold coin is allowed to be a part of these retirement vehicles. They consider all coin contenders using two principle factors. These revolve around the silver purity and their collectable nature.
You will have to front at least $5,000 to purchase IRA sanctioned silver and/or gold bullion to open this type of account. After you have done this successfully, you are able to add additional coins in minimum increments of $1,000 or more. It could be you currently have a traditional form of IRA that you want to transfer over into a precious metals IRA. This can be simply done using the rollover feature of these accounts. Your IRA account administrator will take care of the ordering and receiving and storage details as you provide instructions. The IRS insists on all coins being stored in the secured vaults of one of their specifically sanctioned IRA depositories. They will make certain your bullion is maintained and guarded from theft.
The IRS mandates minimum standards for silver purity on these coins at a high level of .999 minimum silver purity. Since the Soviet and Russian Silver Coins only contain a lower .900 fineness, they are ineligible to be included in the accounts. The coins also are considered to be highly collectable and have a significant premium over bullion content. These are the ultimate reasons for why they can not be purchased with funds from your IRA account nor contained therein. They are still interesting and unique choices for other forms of investment and retirement accounts. You can obtain such pieces from reputable world coin, precious metals bullion, and sometimes jewelry dealers who have them in stock.
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