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The first coin was sent to the prominent German scientist Alexander von Humboldt, who was previously asked to evaluate the use of platinum as a currency and confirm its price relative to silver.

After his death, the emperor Alexander II bought that coin, and in 1859 it was returned to Russia and later became an exhibit of the Hermitage Museum in Saint Petersburg.

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For this reason, the coin is specifically marked as "3 rubles per silver" (Russian: ).

The same reasoning applied to the 6- and 12-ruble coins. It was not free from such noble metals as iridium and palladium, and thus the accompanying phrase "pure Ural platinum" (Russian: The minting was discontinued on 22 June 1845 because of the concerns about possible financial imbalance due to the declining price of platinum; within the next 6 months, platinum coins were withdrawn from circulation.

As a form of currency, these coins proved to be impractical: platinum resembles many less expensive metals, and, unlike the more malleable and ductile silver and gold, it is very difficult to work.

Several commemorative coin sets have been issued starting from 1978 and became popular among coin collectors.

Like all test coins, the platinum farthing has a high historic and numismatic value.

This coin is also interesting because it features the portrait of the already deceased monarch George III (1738–1820).

Following the discovery of platinum in gold rocks, the Spaniards were unable to use it for a long time because they had no technology for processing this metal.

The then-cheap platinum was used for various kinds of frauds, such as substituting it for the more expensive silver.

These discoveries prompted Demidov to start looking for platinum around his Nizhny Tagil plants, where it was quickly found along the river beds. The decree of 24 April 1828 noted that "among the treasures of the Ural Mountains also occurs platinum, which priorly was located almost exclusively in South America.

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