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Chervonets is the traditional Russian name for large foreign and domestic gold coins. The name comes from the Russian term червонное золото (chervonnoye zoloto), meaning 'red gold' (also known as rose gold) – the old name of a high-grade gold type.[1]
Originally, this gold coin was identical to the gold ducat of 3.5 grams, 98.6% fine gold. The first known chervonets of Russian coinage was the Ugric gold; it was created in the 15th century under Ivan III. Sometimes, chervonets were considered any large gold coin, including imperial and semi-imperial coins.[2][3]
Since the beginning of the 20th century, banknotes were often referred to as chervonets with the value of ten units (for example, rubles, hryvnia, euro, etc.). This is due to the initiation of the Russian Soviet Federative Socialist Republic during the monetary reform of 1922–1924 banknotes, or chervonets. They were provided with the same amount of gold that was contained in a coin of 10 rubles during the reign of Nicholas II. A small percentage of gold coins were issued in denominations of one chervonets with a picture of a peasant on the front and a coat of arms of the RSFSR on the back. According to the weight characteristics (8.6 g of 900 samples) and the size of the coin, the chervonets completely matched the pre-revolutionary coin of 10 rubles.