Altyn

The altyn was an important Russian unit of account and coin that originated in the 14th century and played a central role in Russian monetary history for several centuries. Originally introduced as a unit of account, one altyn was initially equivalent to six denga, smaller copper coins that were widespread in medieval Russia. Later, especially in the 17th century, a new valuation prevailed: the altyn was now equivalent to three kopecks. This change reflects the transformation of the Russian monetary structure, which evolved steadily in the course of the centralisation of the Tsarist Empire and under the influence of foreign coinage systems.
The name ‘altyn’ is derived from the Turkic language, where ‘altï’ means the number six – a direct reference to the original value of six denga. This also points to the close economic and cultural exchange between medieval Russia and the Turkic peoples of the Golden Horde, under whose political influence the Grand Duchy of Moscow was located. The Altyn therefore represents not only a coin, but also a piece of intercultural monetary history that documents the intertwining of the Russian coinage system with that of its neighbours.
From the 17th century onwards, the altyn was increasingly minted as an actual coin, initially in copper and later also in silver. Under Tsar Peter I (Peter the Great) and his successors in particular, a currency reform took place in which old units such as the altyn were replaced by a more modern decimal system. Nevertheless, the altyn remained in use until around 1718 and continued to be used in settlements and regional trade transactions thereafter, although its importance gradually declined.
In modern numismatics, the altyn is an interesting collector’s item that fascinates both for its changing value and its historical context. Coins bearing the name Altyn are relatively rare and offer exciting insights into the monetary development of the Tsarist Empire before the great period of reform. The Altyn is a particularly sought-after specimen for collectors of Russian coins, as it is considered a bridge between medieval and early modern monetary policy.
Furthermore, the altyn is also an example of the historical significance of units of account, which did not always have to exist as real coins, but rather served as the basis for trade agreements, tax calculations and state accounting. It was only later versions that gave the altyn a physical form, which has been preserved in museums and private collections today.