5 Kopecks – Russian Empire

In 1730, the currency system of the Russian Empire was defined by a chronic shortage of small-denomination copper coins and a reliance on a cumbersome and inefficient monetary structure. The state's primary coinage was the silver kopeck and its multiples, but these were too valuable for everyday retail trade, creating a severe practical problem for the common population. To facilitate small transactions, the large, heavy plate money (platezhnyye rublî)—copper sheets minted under Peter the Great—remained in circulation, but their weight and bulk made them impractical.

This situation was a direct legacy of Peter I's Great Reforms, which had aimed to modernize the Russian economy but left a disjointed system. His financial policies, including the introduction of the copper plate money to fund the Great Northern War, had strained the treasury and caused inflation. While the government under Empress Anna Ioannovna (who ascended the throne in 1730) recognized the monetary disorder, initial efforts were cautious. The state continued to mint the unpopular copper plates while also producing smaller silver coins, but failed to address the core imbalance between the need for small change and the available supply.

Consequently, the currency situation stifled internal commerce and fostered public discontent. The lack of efficient small coinage led to widespread use of cut-up pieces of silver coins (küsok), further complicating trade and reducing state control over the money supply. This period of monetary instability set the stage for more significant reforms later in Anna's reign, particularly the decision in the mid-1730s to finally demonetize the copper plate money and introduce a new, more functional copper coinage, marking a pivotal step toward a unified monetary system.