RUSSIA. Platinum 12 Rubles, 1831-CNB. St. Petersburg Mint. Nicholas I. PCGS Genuine--Spot Removed, AU Details Gold Shield. Fr-158; KM-C-179; Bit-40. Mintage: 1,463. A VERY RARE multiple in platinum, this impressive specimen exhibits light handling with a high degree of brilliance and reflectivity. The details designation emanates from a spot removal that isnt entirely clear, though on the whole, it could be said that some degree of cleaning has taken place. Nevertheless, an iconic piece with great charm and flair.The discovery of platinum in the Urals of Western Siberia resulted in the production of three new Russian decimal coinage denominations. By the imperial decree of April 24, 1828, platinum coinage was initiated for circulation. The minting of platinum coinage in 19th century Russia was done on a very limited basis and for a period of less than two decades. The new coinage denominations were not well-received by the public, as they were produced in a pale white metal that was unfamiliar in circulation. In 1845, an imperial decree was issued ordering the minting of platinum coinage to cease. Simultaneously, the existing pieces were ordered to be recalled within a six month period. For this reason, much of the original mintages were redeemed and destroyed, which accounts for their rarity today. As the allowable six month period was too short for all the platinum issues to be redeemed and destroyed, it is largely responsible for the examples known today.
