For those interested in coins, news from the Sochi 2014 Coin Program should be of note. 700,000 Sochi 2014 bullion coins were just released into circulation by the Russian Central Bank. This latest release is part of a program established by the Russian Central Bank, the Russian Federation, “Goznak” FSUE and Sberbank of Russia. Coins in the program were first released in 2011. There will be other periods of release up until 2014. All coins are made from various types of precious metals – including investment and commemorative – as well as colored metals.
In this most recent of releases, each coin has a square-cut form. On one side the Russian double-headed eagle is depicted, and on the other, a bear – one of the Sochi 2014 mascots. Amongst the coins are: 300,000 gold coins (valued at 3 roubles a piece); 300,000 gold coins (value of 50 roubles) and 100,000 gold coins (valued at 100 roubles). These coins will now be accepted as legal tender.
Coins that have been released so far in this program include: four silver coins in the “Modern Sports Featuring in the Olympic Winter Games” series; a gold coin depicting Sochi’s Flora, valued at 1000 roubles; a silver coin valued at 100 roubles depicting The Russian Winter; two gold coins in the Sports dating from the first Olympic Winter Games series valued at 50 roubles and one coin made out of colored metals, with the emblems of the Sochi Games and mountains, valued at 25 roubles. Out of all of these coins listed above, the latter one saw around 10m being released into circulation for cash usage. The rest were accessible from any Sberbank of Russia branch around the country.
In general, coin collectors should learn about the reputation of a company before getting involved in this valuable collectors’ hobby. When done correctly and with a reputable company, it can become a truly fascinating pastime. This latest coin program, for those considering beginning the hobby, offers the perfect time to start.
