Archaeologists from the Institute of Archaeology of the Russian Academy of Sciences have revealed a remarkable hoard of gold coins uncovered in 2025 in the historic town of Torzhok, in Russia’s Tver Region.
The find, which includes 409 gold coins dating from 1848 to 1911, is now considered one of the largest hoards of late-Imperial Russian gold coins ever found during archaeological excavations. The treasure was recovered during rescue excavations before the construction of a new residential building on Torzhok’s Left Bank.
The work was conducted by a joint expedition of the Institute of Archaeology and the All-Russian Historical and Ethnographic Museum in Torzhok. These rescue excavation works are required by law in areas with archaeological significance before construction begins. The coins were discovered buried under the stone foundations of a house in a glazed ceramic kandyushka, a small container like a mug or pot with a neck and rounded handle.
According to Natalia Sarafanova, head of the Novotorzhsk archaeological team, the hoard was likely concealed during the upheaval of the Russian Revolution in 1917. “Most of the coins date to the reign of Emperor Nicholas II. This appears to be a so-called return hoard: the owners hid their valuables intending to retrieve them later, but for some reason they never returned,” she said.
The oldest coin in the collection is a five-ruble piece from 1848, when he ruled as Emperor Nicholas I, and another coin dates to the period of Alexander III. Most of the hoard is made up of ten-ruble gold coins made during Nicholas II, with the most recent dating to 1911. The collection also contains coins produced under Sergei Witte’s monetary reform in 1897, including two coins worth 7.5 rubles and another 10 coins worth 15 rubles. The total of the hoard is 4,070 rubles in gold.
The site of the discovery is next to the former Church of St. Demetrius, which was demolished in the early 1930s. The area has been inhabited since the 12th century, and wooden houses were built on stone foundations which were common from the 17th century onward.
The coins will provide valuable insight into late-Imperial monetary circulation. The hoard will soon be moved to the All-Russian Historical and Ethnographic Museum, where it will become part of the museum’s collection while scholars continue to try to uncover the true identity of its long-lost owner.
Sources : Russian Academy of Sciences
