50 ruble gold coin 170 years Sberbank 2011 1/4 oz Russia

To the 170. Anniversary of Sberbank

Face value: 50 rubles
Minting quality: Proof
Fineness: 999/1000
Total weight: 7.89g (±0.10)
Fine weight: 7,78g
Diameter: 22.60mm (±0.15)
Thickness: 1.60mm (±0.20)
Circulation: 1,250
Mintage: St. Petersburg Mint (SPMD)
Edge design: 134 corrugations

Front
In the center – the emblem of the Bank of Russia (double-headed eagle with wings down, below – the semicircular inscription “Bank of Russia”), framed by a circle of dots and inscriptions along the circle – above: “Fifty rubles”, below – information on the class of precious metal and alloy, in the center – date of issue “2011”, right – fine metal content and the trademark of the coin.

Back
In the center of the frosted coin segment there is a contoured image of a hand holding a plant shoot; at the top of the segment there are three parallel frosted stripes forming an obtuse angle; at the bottom left of the edge there is an inscription executed in truffle technique: “Sberbank 170 Years”. At the top of the left side there is a small segment of a mirror field.

History
Russian Sberbank (similarly translated as Savings Bank) traces its origins to Sberbank, which was established by an edict of Tsar Nicholas I on October 30 (November 12) 1841 “to provide savings for the poor of all classes in a faithful and profitable manner.” On March 1, 1842, the first Sberbank opened in St. Petersburg, operating one day a week (Sundays). One could deposit between 50 kopecks and 10 rubles each, and the total amount per person was limited to 300 rubles.

In 1850 Sberbank branches opened in Pskov and Novgorod. In 1862, the savings banks were placed under the Ministry of Finance. At that time there were 46 provincial savings banks in the country besides the capitals (St. Petersburg and Moscow). Gradually, the maximum amount to be deposited was increased. In 1915, the restrictions on the maximum amount of the deposit were lifted.

In 1922, the People’s Commissariat for Internal Affairs issued a decree “On the Establishment of Sberbank”, and the Sberbank in Petrograd, located in the building of the former State Savings Bank Administration at 78 Fontanka Street, was reopened to receive deposits from the population. In September 1923, a Sberbank was opened in Pskov, and in the 1920s and 1930s a network of Sberbank branches was established in the Leningrad Oblast, which also included the Novgorod, Pskov, Cherepovets, and Murmansk provinces, as well as the Autonomous Republic of Karelia. By 1940, there were 22 cash registers in Leningrad alone.

In the post-war years, the network of the state-owned Sberbank covered all regions of the country. In 1948, the new statute of the State Labor Bank was adopted.

In March 1991, the Joint-Stock Commercial Savings Bank of the Russian Federation was established.

Currently, Sberbank is a Russian financial conglomerate and the largest universal bank in Russia and Eastern Europe. Sberbank had 96.2 million active retail customers and 2.6 million active corporate customers in 2019. Among the world’s largest banks, it ranks among the top ten in terms of assets.
(Source: http://sberbank.ru and https://www.cbr.ru/)