The 1723 poltina occupies an awkward moment in Peter's monetary reforms — the tsar had been systematically overhauling Russian coinage since 1700, but silver fractional denominations remained inconsistent in both alloy and weight throughout his reign. The .728 fineness here reflects a deliberate debasement from earlier issues, a pragmatic concession to the chronic silver shortages plaguing the treasury during the ongoing Northern War's financial aftermath.
KM#161.1 distinguishes this as the first major die variety of the type. Peter died in February 1725, leaving this among the last poltina designs produced under his direct authority.
The 1723 poltina occupies an awkward moment in Peter's monetary reforms — the tsar had been systematically overhauling Russian coinage since 1700, but silver fractional denominations remained inconsistent in both alloy and weight throughout his reign. The .728 fineness here reflects a deliberate debasement from earlier issues, a pragmatic concession to the chronic silver shortages plaguing the treasury during the ongoing Northern War's financial aftermath.
KM#161.1 distinguishes this as the first major die variety of the type. Peter died in February 1725, leaving this among the last poltina designs produced under his direct authority.