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Jefimok Rouble - Alexey Mikhailovich Countermarked over 'Hamburg Taler 1624'
| Issuer | Russian Empire |
|---|---|
| Year | 1655 |
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| Shape | Round |
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| Reverse description | The reverse of the host Hamburg Taler features a large crowned double-headed Imperial eagle displayed in the centre of the field, with spread wings and a shield on its breast, rendered in the bold baroque style typical of early seventeenth-century German taler coinage. The circumferential legend, partially legible due to the coin's fragmentary condition, references the Holy Roman Emperor Ferdinand II, reading FERDINANDVS II D G ROM IMP SE AU. A beaded inner border frames the design, with a milled outer rim. No Russian countermarks are present on this side. |
| Reverse script | Latin |
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| Additional information |
The jefimok was not a coin Russia minted — it was a policy. Facing a chronic shortage of silver bullion in the 1650s, Tsar Alexey Mikhailovich's government collected foreign thalers in bulk and countermarked them for domestic circulation, essentially nationalizing European trade silver at a stroke. The Hamburg taler of 1624 beneath this countermark had likely traveled considerably before being swept up in that 1655 decree.
The program lasted a single year. Merchant resistance was fierce — the assigned value of 64 kopeks significantly exceeded the coins' bullion worth, and the resulting public distrust contributed directly to the copper coin crisis of the following decade. Countermarked jefimki were demonetized by 1659.