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Jefimok Rouble - Alexey Mikhailovich Countermarked over 'Zwolle Arendrijksdaalder'
| Issuer | Imperial Russian Mint |
|---|---|
| Year | 1655 |
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| Composition | Log in to see details |
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| Shape | Round |
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| Reverse script | Latin |
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| Mintage | 1655 |
| Additional information |
The jefimok program of 1655 was a fiscal emergency measure. Russia lacked the minting infrastructure to produce roubles in sufficient volume, so Tsar Alexei Mikhailovich ordered foreign taler-weight coins — accumulated through trade — to be countermarked with a horseman punch and a date stamp, instantly converting them into roubles at a rate of 64 kopecks face value against a silver content worth considerably less. The Zwolle rijksdaalder, struck by the Overijssel mint in the Dutch Republic, was one of dozens of accepted host types.
The scheme collapsed within a year. Merchants calculated the overvaluation and refused the coins; the resulting monetary chaos contributed directly to the copper rouble riots of 1662.