Saturday, August 19, 2017

Russia's central bank to mint coins dedicated to Crimea annexation

Russia's Central Bank announced on Monday that it intends to mint a coin dedicated to the annexation of the Republic of Crimea to Russia.

The 10-ruble coin--which amounts to approximately 28 cents--will depict the Crimean city of Sevastopol and will be made of steel with brass electroplated coating, Ural Business Consulting reports.

"The coin will be minted in 10m units, which is the typical number for the ten-ruble coins," Central Bank Operational Director Larissa Larinova said, according to Ural Business Consulting. "This means virtually every Russian citizen has a good chance of getting one."

The new issue marks the second time Russian coins have been minted in dedication to Crimea. In 1787, Russian mints issued coins depicting Catherine the Great when Crimea was absorbed into the Russian Empire.