They decided to return to replacing coins with paper money during the short reign of Peter III. Thus, on May 25, 1762, a personal decree was signed on the issue of bank notes, replacing coins in circulation. But this decree failed due to a sudden palace coup. The new Empress who ascended the throne, Catherine II, abandoned the idea of her predecessor Peter III and, thanks to her, the coins continued to exist. In the last years of her reign, Catherine II changed the design of the coins. For example, the Catherine monograms minted on coins are very diverse. Coins issued in Siberia, Tauris and Moldova are characterized by a rounded outline of the letter “E”, on which “II” is superimposed in Roman numerals. The first golden chervonets appeared precisely during the reign of Catherine II in 1766. Now its antique value exceeds $50,000
In 1769, under Catherine II, the production of paper notes began - banknotes, exchanged for copper and silver coins.
