160th Anniversary of the Bank of Russia
the mirror field of the disc features a relief image of the emblem of the Bank of Russia – a two-headed eagle with drooping wings – in a bead-shaped ring and a semicircular inscription ‘БАНК РОССИИ’ (BANK OF RUSSIA) below it; along the rim there are inscriptions divided by dots: the coin denomination ‘3 РУБЛЯ’ (3 RUBLES) above, the year of issue ‘2020 г.’ (2020) below and the indication of the precious metal, fineness, the mint trademark, and fine metal content in the middle.
the mirror field of the disc bears a characteristic ‘technological’ ornament (blockchain elements), symbolising the vector of the development of financial technologies; there is an inscription in the middle in two lines: ‘160 ЛЕТ БАНКУ РОССИИ’ (160 YEARS OF THE BANK OF RUSSIA).
Designers: A.V. Baklanov, National Artist of Russia (obverse), S.A. Kozlov (reverse).
Sculptors: A.V. Baklanov, National Artist of Russia (obverse), computer simulation (reverse).
Mint: Saint Petersburg Mint (СПМД).
Edge: 300 corrugations.
In 1860, the Emperor of Russia Alexander II signed a decree to establish the State Bank. According to its charter, it was responsible for promoting ‘the revival of trade turnover and the resilience of the monetary system’. Alexander von Stieglitz, a renowned banker, entrepreneur and philanthropist, became the first Governor of the bank. Initially, the State Bank was mainly engaged in short-term commercial lending. In the 1920s, the bank was a key actor in the restoration of the country’s financial system and the development of exchange relationships. During the hardships of World War I and the Great Patriotic War, it focused on covering military expenditures and the supply of the army and households with money. In the Soviet Union, the State Bank was a lender for the centrally planned economy, issued money, and carried out international settlements. In the challenging 1990s, the bank did its best to keep the economy stable and created the system of foreign exchange regulation and control. Today, the Bank of Russia is a technologically advanced mega-regulator responsible for the stability of the entire financial system of the country.