100 Rubles (Dionissy) – Russian Federation
Non-circulating coins
Commemoration: The 500th Anniversary of the Death of Dionissy
Russia
Context
Year: 2002
Country: Russia 
Issuer: Russian Federation
Period:
(since 1991)
Currency:
(since 1998)
Total mintage: 500
Material
References
Value
Exchange value: 100 RUB
Bullion value: $2803.31
Inflation-adjusted value: 850.79 RUB
Obverse
Description:
Center: Bank of Russia emblem [two-headed eagle, wings down, with "БАНК РОССИИ" below]. Encircled by dots and text: top - "СТО РУБЛЕЙ", bottom - year "2002", left - metal/fineness, right - metal content/mint mark.
Inscription:
СТО РУБЛЕЙ
БАНК РОССИИ
• Ag 900 • 2002 г. • 1 КГ СПМД •
БАНК РОССИИ
• Ag 900 • 2002 г. • 1 КГ СПМД •
Translation:
ONE HUNDRED RUBLES
BANK OF RUSSIA
• Ag 900 • 2002 • 1 KG SPMD •
BANK OF RUSSIA
• Ag 900 • 2002 • 1 KG SPMD •
Language: Russian
Designer and engraver: Alexander Vasilyevich Baklanov
Reverse
Description:
Center: an engraving of the 14th-century St. Ferapont Monastery on a lakeshore, inscribed "ФЕРАПОНТОВО" above and "ДИОНИСИЙ" below. Superimposed on a stylized cross are frescoes by Dionissy from the monastery's Church of the Nativity of the Virgin: left (St. George), right (St. Metropolitan Peter), top (The Virgin with Two Angels), bottom (Christ in the House of Simon). Flanking the cross are 16th-century miniatures from the "Personal Annalistic Code": top (Construction, A Visit), bottom (A Military Campaign, Icon-Painters).
Inscription:
ФЕРАПОНТОВО
ДИОНИСИЙ
ДИОНИСИЙ
Translation:
FERAPONTOVO
DIONISY
DIONISY
Script: Cyrillic
Language: Russian
Engraver: Andrey Sergevich Kunats
Designer: Alexander Vasilyevich Baklanov
Edge
360 corrugations
Categories
| Building> Religious building |
| Event> Death anniversary |
| Person> Religious figure |
| Symbol> Cross |
Mints
| Name | Mark |
|---|---|
| Saint Petersburg | (СПМД) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2002 | СПМД | 500 | Proof |
Historical background
In 2002, the Russian Federation was in a period of relative monetary stability, a stark contrast to the crises that defined the preceding decade. The Russian ruble (RUB) had been successfully redenominated in 1998, removing three zeros, but was immediately challenged by the devastating financial crisis and default of that same year. By 2002, the economy was in a strong recovery phase, buoyed by a significant devaluation that boosted domestic industry and, most importantly, a sustained rise in global oil prices. This influx of hydrocarbon revenues allowed the Central Bank of Russia (CBR) to build foreign exchange reserves and exert greater control over the currency's value.
The monetary policy framework was explicitly focused on maintaining a stable and predictable exchange rate against the US dollar, operating a de facto crawling peg. The CBR's primary goal was to curb inflation and prevent excessive ruble appreciation, which could harm the competitiveness of non-oil exports. To achieve this, the CBR actively intervened in the foreign exchange market, purchasing surplus dollars from exporters and accumulating reserves, which grew steadily throughout the year. This managed float successfully kept the ruble within a narrow trading band, fostering macroeconomic stability and rebuilding public trust in the national currency after the traumas of the 1990s.
However, this stability was underpinned by a dependence on volatile commodity markets, highlighting an unresolved structural vulnerability. The government was running budget surpluses and beginning to discuss the creation of a stabilization fund to insulate the economy from future oil price shocks—a policy that would later materialize. While 2002 was marked by calm, it was a calm engineered by favorable external conditions and administrative control, rather than a deep, institutional transformation of the financial system. The period solidified a model where ruble stability and federal budgets became directly linked to the global price of oil.
The monetary policy framework was explicitly focused on maintaining a stable and predictable exchange rate against the US dollar, operating a de facto crawling peg. The CBR's primary goal was to curb inflation and prevent excessive ruble appreciation, which could harm the competitiveness of non-oil exports. To achieve this, the CBR actively intervened in the foreign exchange market, purchasing surplus dollars from exporters and accumulating reserves, which grew steadily throughout the year. This managed float successfully kept the ruble within a narrow trading band, fostering macroeconomic stability and rebuilding public trust in the national currency after the traumas of the 1990s.
However, this stability was underpinned by a dependence on volatile commodity markets, highlighting an unresolved structural vulnerability. The government was running budget surpluses and beginning to discuss the creation of a stabilization fund to insulate the economy from future oil price shocks—a policy that would later materialize. While 2002 was marked by calm, it was a calm engineered by favorable external conditions and administrative control, rather than a deep, institutional transformation of the financial system. The period solidified a model where ruble stability and federal budgets became directly linked to the global price of oil.
✨ Legendary