Fr-167; Y-A42; Bit-16(R); Sev-532. <strong>VERY RARE</strong>. Russia adopted the gold standard in January of 1897 under the guidance of Count Sergei Witte, the Minister of Finance under both Alexander III and Nicholas II. Henceforth the gold coinage in Russia was valued at one new Ruble equaling 0.7774234 grams of pure gold, or a reduction of one third from the gold coinage prior to the reform. While the incentive to melt older gold coins was present for all denominations, the older 10 Ruble coinage in particular was heavily targeted for melting, leaving very few extant today regardless of date. The most commonly encountered circulation struck 10 Ruble date is 1894, which had a mintage of only 1,007. This speaks volumes about the survivability of earlier dates of much higher mintage that are seldom ever encountered regardless of condition. That all said, long before Witte contemplated a currency reform, the earlier <strong>PROOF</strong> examples of the 10 Ruble denomination had achieved a degree of rarity that made them highly sought after even in the nineteenth century. The rarity of the type is borne out by the grading services, with only eight examples of any <strong>PROOF</strong> date struck under Alexander III having been submitted at PCGS and NGC combined, with reasonable likelihood of multiple submissions. For the specific date of 1887, there has only been a single piece submitted; the example offered here. With the additional distinction of having achieved the <strong>CAMEO</strong> designation from PCGS the coin is unquestionably of the highest desirability. The portrait sets high atop the concave surrounding fields, with the Tsars beard, hair and facial features taking on an almost life like quality. A trace of clear apricot tone evenly covers the obverse, with the reverse exhibiting slightly less tone through the denomination and date, as well as the central double headed eagle. The rims are flawless, and the edge incuse lettering deep and full without swelling the surrounding metal surfaces. Superior overall luster as expected and free of marks or abrasions, the coin is in every way a <strong>GEM PROOF</strong>. A numismatic treasure that is easy to imagine as the centerpiece of a comprehensive collection of Russian gold, and a piece that is certain to enhance the prestige of the collection it eventually will join.，PCGS PROOF-65 CAMEO Secure Holder.，From the Kiev Collection. Ex: Stacks CICF March 1988 Sale, Lot #2202.
