Altyn

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Silver altyn minted 1711 in the reign of Peter I the Great.
3-kopek coin minted 1977 by the Soviet Union.

Altyn (Russian алты́н, also алты́нник altýnnik) is a historical Russian currency (symbol: Altyn.png). The name in Tatar is altı (алты) meaning "six", since it was worth 6 half-dengas (six halves, Russ. шесть полушек), equivalent to three kopek silver, then copper, a small value coin,[1][2] or 180–206 copper puls.[3]

From the 15th century, altyn had been in use in several Russian principalities as a Eurasian currency between Russian and Asian traders.[4] They were minted from 1654 under Alexis I, under Peter I as silver coins from 1704 to 1718. Later they were revived under Nicholas I as copper coins with a value of three kopeks from 1839. While the name altyn eventually got lost, three-kopek-coins circulated in Russia until 1991.[4]

In the 2010s, the Eurasian Economic Commission drafted first proposals to revive the altyn once again by 2025 as a common currency of the Eurasian Economic Union, although western sanctions against Russia may cut the process to 3-5 years.[4]

References[edit]

  1. ^ Спасский, И. Г. Алтын в русской денежной системе. / В кн.: Краткие сообщения Института истории материальной культуры АН СССР, вып. 66. — 1956.
  2. ^ Спасский, И. Г. Русская монетная система. — Л.: Аврора, 1970. — с. 105.
  3. ^ Eric R. Schena, “The Influence of Islamic Coins on the Russian Monetary System: An Introduction,” As-Sikka: The Online Journal of The Islamic Coins Group, 1, no. 2 (1999-2000), http://islamiccoinsgroup.50g.com/ArtRussian.htm, August 2004
  4. ^ a b c "Russia, Kazakhstan and Belarus to have new joint currency". Pravda.ru. 2014-04-10. Retrieved 2015-01-06. 

Literature[edit]

  • Узденников В. Монеты России (1700—1917): Издание третье. — М.: Collector’s Books; IP Media Inc., 2004.