Dia-1317.1. Conjoined busts of the Peter I (The Great) and Nicholas II left, legend above; Reverse: Naked youth standing left pouring crystals from cornucopia on to ground in front of seated figure of russia holding staff right, radiant 1700 on horizon with blast furnace and oil derrick in distance, date in exergue. As Emperor Peter I (The Great) was responsible for many advancements in his country. The establishment of the State Mining and Geological Service on August 24, 1700 led to many discoveries and prospecting of gold, silver, copper, other ores and oil. It also led to the first attempt at foreign market research into the oil market in February 1726 by sending 3 barrels of oil to merchant Lyubs in Holland who was asked to find out the real price and potential Sale volumes. However, the results were unsatisfactory as the demand for oil in Holland was minuscule. An interesting piece that tells an interesting story. Cleaned long ago now attractively toned on the obverse showing red, blue and golden hues..PCGS Genuine--Cleaning, Unc Details Secure Holder..PCGS #616969..
