For a period of many centuries the country known as Ancient Rus and modern Russia experienced moments of fall and turmoil, moments of stagnation and times of disturbance, moments of flourishing prosperity and times of democratic development. All of these events and milestones have naturally influenced the development of the country and its history, including its trade and marketplace.

The first minted coins emerged on the territory of Russia in the reign of princes Vladimir the Great (980-1015), Svyatopolk (1015-1019) and Yaroslav the Wise (1019-1054), following a so-called "leather" money period and then a coinless period.

All the descendants of those princes mentioned were ancestors of the Ryrik dynasty, Norsemen who were asked to rule Ancient Rus by numerous tribes living on the territory. The appearance of first minted coins, called zlatniki (from the word for "gold") and srebriniki (derived from the word serebro) on the territory of Rus facilitated trade and commerce with different areas of the world.

Here Come the Vikings

Early Rus was a feudal society. Commerce was not highly developed, and the flow of dirhams as well as other coins carried into the country from the Middle East by trade was very difficult to absorb. Additionally, the flow of dirhams into Russia was sporadic. Princes, men-at-arms, merchants and clergymen sought and stashed treasure. The nobility sought silver for prestige. This precious metal (silver) was also used for decorations and utensils.

Slave trade flourished in the Kievan Rus at the time. Slaves were sold or traded to merchants and wealthy residents of Middle Eastern countries. In return, princes and merchants received silver ingots and coins. Payment between merchants and important people were made in silver throughout Russia, however, barter transactions were the rule among the common people, who traded such goods as leather, honey, wax, fur, animal skin, fish, glue and hemp. These same kinds of goods also were traded with oriental merchants.

In the year 980, a flood of western European silver began to flow into Eastern Europe, primarily the lands of western Rus, the Baltic republics and adjacent territories. In the Baltic region, one could easily find coins from the first Norman kings, who conquered England in 1066. Different types of coins of kings Magnus the Kind, Swen Easriensen, Olaf I Tryggvesson, as well as Harald III found their way into Ancient Rus.

Enter the Ruble

At the bridge of 14th and 15th centuries, a ruble payment system was introduced. Along with dengas, poludengas and pulos that were used primarily for small-amount transactions, the introduction of ruble system made it easier for merchants to conduct bigger-amount transactions. On the basis of this system, one could calculate a quantity of coins according to the weight standard of the ruble.

The cities of Moscow and Novgorod had been circulating rubles of their own. In Moscow one ruble contained 100 dengas under Dmitriy Donskoy. That rate doubled under Vasiliy Tyomniy (Vasiliy the Dark) in the middle of the 15th century because of a decrease of denga's weight, and this standard remained unchanged with a weight content of 200 grams through Peter the Great's reforms at the beginning of the 18th century.

Thus, as we could see both politics and economy was based on a system of ruble as a main currency type that persevered for many centuries to come. Both trade and commerce relations of Ancient Rus, and later Russia, depended on the system that played a great, integral role in the history of Russia.