Central Bank of Russia issues gold and silver bullion pieces that ‘must be accepted’ as legal tender

DGC Magazine ^ | December 20, 2012 | Blog Post

[theBuckwheat]

On the 17th the bank issued three values of bullion:

31.1g silver pieces with a 3RUB face value 7.78g gold pieces with 50RUB face 15.55g gold pieces with a 100RUB face value These bullion pieces are legal tender in the Russian Federation.

The announcement on the Central Bank of Russia’s website is, of course, in Russian.

However, if you trust Google Translator, below is an English summary of the announcement....

In English...

The coins are legal tender cash payment in the Russian Federation and must be accepted at face value in all kinds of payments without any restrictions.

[theBuckwheat]

If a major country converted to a gold-backed currency, it would be a major blow to the fiat currencies if the monetary base were large enough.

[ClearCase_guy]

Tungsten

[wrench]

And silver plate

[The Duke]

Wouldn't it be important for the face value of the coins to be somewhat close to the meltdown value?

If the coins contained tungsten then they would quickly lose all value - so that would seem to be self-defeating.

[ROCKLOBSTER]

HOW DO WE GET THEM?

[Jet Jaguar]

Goldbug Ping.

[Jet Jaguar]

[null and void]

[null and void]

8 seconds.

[null and void]

Not quite an ingot, not quite a coin...

[KC_Lion]

Jet Jaguar, would you please add me to the Gold Bug ping?

I love my sound money.

[null and void]

HOW DO WE GET THEM?

Write, call, fax or interweb:

Центральный банк Российской Федерации (Банк России)
Департамент внешних и общественных связей
107016, Москва, ул. Неглинная, 12,
тел.: (495)771-4417, 771-4669;
факс: (495)771-4932;
http://www.cbr.ru

[Jet Jaguar]

LOL!

[Jet Jaguar]

You are added.

(tip)

Look up articles with gold or silver added to the keywords if you want to see past articles.

[palmer]

We have the same thing here. In my hands I have a $50 dollar circulation gold buffalo in section of original plastic wrapper. If I come to your store, you must accept it like you would a fifty dollar bill.

[KC_Lion]

Thank You!

And I will.

[dr_lew]

These numbers indicate 1/4 and 1/2 troy ounces of gold in the 50 and 100 ruble pieces. The ruble is supposedly worth about $.03, so this doesn’t make any sense!

It’s gotta be some kind of “Franklin Mint” thing, doesn’t it?

[Lurker]

And I would do so in a heartbeat.

[palmer]

I’ll be right over!

[KarlInOhio]

If real gold, why would anyone ever use this as cash? A half ounce of gold is worth 25,220.46 Rubles (according to www.xe.com). Now if anyone wanted to exchange it for its face value of 100 paper rubles or even three crisp United States dollars I would be glad to provide the paper money.