500 Rubles (Victory in Patriotic War of 1812) – Russian Federation
Non-circulating coins
Commemoration: 200th Anniversary of the Victory in Patriotic War of 1812
Russia
Context
Year: 2012
Country: Russia 
Issuer: Russian Federation
Period:
(since 1991)
Currency:
(since 1998)
Total mintage: 50
Material
References
Value
Exchange value: 500 RUB
Bullion value: $13109.29
Inflation-adjusted value: 1465.66 RUB
Obverse
Description:
Center: Bank of Russia emblem (two-headed eagle, wings down, with "БАНК РОССИИ") within a dotted circle. Rim inscription: "ПЯТЬСОТ РУБЛЕЙ" above. Below left: metal specs. Center: "2012 г." Below right: coin number "№____" and mint mark. Four ornamental fragments connect at the disc's axes via two concentric lines.
Inscription:
ПЯТЬСОТ РУБЛЕЙ
БАНК РОССИИ
• Ag 925 5 кг 2012 г. №___ СПМД •
БАНК РОССИИ
• Ag 925 5 кг 2012 г. №___ СПМД •
Translation:
FIVE HUNDRED RUBLES
BANK OF RUSSIA
• Ag 925 5 kg 2012 No.___ SPMD •
BANK OF RUSSIA
• Ag 925 5 kg 2012 No.___ SPMD •
Language: Russian
Designer: Andrey Anatolyevich Brynza
Reverse
Description:
The mirror depicts the Battle of Borodino: advancing Napoleonic troops (left), a trench with defenders (center), and the Russian army (right), with a church and a redoubt in the background. The rim features the Mother of God of Smolensk at the top, a shako over crossed arms below, and the inscription "ОТЕЧЕСТВЕННАЯ ВОЙНА 1812 ГОДА."
Inscription:
ОТЕЧЕСТВЕННАЯ ВОЙНА 1812 ГОДА
Translation:
PATRIOTIC WAR OF THE YEAR 1812
Script: Cyrillic
Language: Russian
Engraver: Alexander Nikolaevich Bessonov
Designer: Sergey Vladilenovich Sutyagin
Edge
390 corrugations
Mints
| Name | Mark |
|---|---|
| Saint Petersburg | (СПМД) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2012 | СПМД | 50 | Prooflike |
Historical background
In 2012, the Russian currency situation was characterized by relative stability but underlying vulnerability. The Russian ruble (RUB) was trading in a managed float against a dual-currency basket (55% USD, 45% EUR), with the Central Bank of Russia (CBR) intervening to smooth excessive volatility. This period followed a strong recovery from the 2008-09 global financial crisis, supported by high global oil prices—averaging over $110 per barrel for Urals crude—which bolstered foreign exchange reserves and provided a large current account surplus. This commodity-driven inflow created an environment of ruble strength, with low inflation and controlled exchange rate bands.
However, this stability was heavily contingent on external factors, exposing structural economic weaknesses. The Russian economy remained overly dependent on hydrocarbon exports, while capital flight, driven by political uncertainty and a lack of investor confidence in institutions, persisted at high levels (estimated at $54-56 billion in 2012). Furthermore, the CBR was in a transitional phase, gradually widening the ruble's trading corridor to move toward a free float and inflation targeting by 2015. This policy shift aimed to reduce the fiscal burden of interventions but introduced elements of market uncertainty.
By the end of 2012, the pressures were becoming more apparent. Global economic slowdown fears and moderating oil prices began to test the ruble's resilience. The currency weakened slightly against the basket in the latter half of the year, foreshadowing the more significant challenges to come. The situation underscored a fundamental tension: the ruble's short-term stability was purchased with oil revenues, while long-term vulnerabilities like capital flight and a lack of diversification left it exposed to future external shocks, which would materialize sharply in the coming years with the geopolitical events of 2014.
However, this stability was heavily contingent on external factors, exposing structural economic weaknesses. The Russian economy remained overly dependent on hydrocarbon exports, while capital flight, driven by political uncertainty and a lack of investor confidence in institutions, persisted at high levels (estimated at $54-56 billion in 2012). Furthermore, the CBR was in a transitional phase, gradually widening the ruble's trading corridor to move toward a free float and inflation targeting by 2015. This policy shift aimed to reduce the fiscal burden of interventions but introduced elements of market uncertainty.
By the end of 2012, the pressures were becoming more apparent. Global economic slowdown fears and moderating oil prices began to test the ruble's resilience. The currency weakened slightly against the basket in the latter half of the year, foreshadowing the more significant challenges to come. The situation underscored a fundamental tension: the ruble's short-term stability was purchased with oil revenues, while long-term vulnerabilities like capital flight and a lack of diversification left it exposed to future external shocks, which would materialize sharply in the coming years with the geopolitical events of 2014.
✨ Legendary