COMMEMORATIVE AND BULLION COINS DEDICATED TO THE NORTH: HISTORICAL AND ECONOMIC ASPECTS (AN OVERVIEW)

Abstract

This article offers an overview of commemorative and bullion coins dedicated to the North, grouping thematic coins from the past 30 years. It analyzes various aspects, including historical, economic, and investment perspectives. The authors review noteworthy commemorative coins made of precious metals by the Bank of Russia. These coins honor the cultural heritage, landmarks, notable figures of Northern exploration, and the region’s flora and fauna. Specifically, coins such as “Exploration of the Russian Arctic,” “International Polar Year,” and “Let’s Save Our World” are examined. The article evaluates the role of monetary policy in the Russian economy, particularly its anti-inflationary objective. A brief historical overview is provided regarding the first Soviet banknotes featuring Northern views and their circulation. In addition to Russian practices, the article showcases international experiences in issuing commemorative coins dedicated to exploring the North. The relevance of this study lies in the Bank of Russia’s emission activities regarding commemorative coins made of precious and base metals, as well as investment coins made of precious metals, both domestically and internationally. The study’s findings set the stage for further exploration of new thematic coins, including an assessment of numismatic and investment demand prospects.

Keywords

• north
• arctic
• commemorative and bullion coins of the bank of russia
• thematic coins
• monetary circulation
• monetary policy
• investments
• gold token
• hoarding
• savings