Thursday, 21 May 2026

FIVE MINUTE HISTORY - What happened to the Romanov treasure?


Escape of the Grand Duchess
By Susan Appleyard


Publication Date: 27th July 2025
Publisher: Ingenium Books Publishing Inc.
Page Length: 412
Genre: Biographical Historical Fiction 

Escape of the Grand Duchess by Susan Appleyard is a gripping historical novel that shatters the notion that royalty is synonymous with privilege and ease. At its heart is Grand Duchess Olga Alexandrovna, the youngest sister of Tsar Nicholas II—a Romanov who defied a doomed destiny and survived.

Unlike her ill-fated brother and his family, Olga’s story is one of resilience, sacrifice, and daring escape. Trapped in a loveless marriage to a reckless gambler—who harbours secrets of his own—she finds hope in the arms of a dashing army lieutenant. But before she can claim her own happiness, she must first endure the brutal realities of World War I, where she serves as a nurse on the frontlines.

As the Russian Empire teeters on the brink of collapse, the infamous Siberian mystic Rasputin tightens his grip on the imperial court, setting the stage for revolution. With the Bolsheviks seizing power and the Romanovs marked for death, Olga faces an impossible choice: risk everything to stay or flee into the unknown with her true love and their children.

Rich in historical detail and driven by an unforgettable heroine, Escape of the Grand Duchess is a sweeping riches-to-rags tale of survival, love, and the strength it takes to forge a new life in the face of unimaginable upheaval.

FIVE MINUTE HISTORY - What happened to the Romanov treasure?

That was a question frequently asked after the tragic death of Tsar Nicholas II and his family. Anna Anderson, the imposter claiming to be Grand Duchess Anastasia, sued to obtain ‘her father’s’ millions, and some people supported her hoping to get a share of her riches. Exiled imperials were also interested in the question. Before his death, Nicholas was assumed to be one of the richest men in the world along with the Rockefellers and Rothschilds and those other American multi-millionaires of the time. But was he? 
What were Nicholas’s assets?
He lived in opulent palaces, but they belonged to the state. They were filled with eye-popping valuables, priceless works of art, gilded ornaments, dinner services for a hundreds, carpets and tapestries. Apart from some personal items, gifts from family, friends and foreign leaders, all belonged to the state. In fact, Nicholas owned very little of the riches surrounding him. Tsarina Alexandra possessed fabulous jewellery. Some were given to her as gifts; the rest were in her keeping only until she passed them on to the next tsarina. Many pieces of the imperial regalia were sold in London during the twenties and thirties to raise money for the new government. When they were arrested, the Tsarina and Grand Duchesses, assuming they would be exiled, sewed jewels into their corsets and the hems of their clothing. Their executioners stripped the bodies, and it can be reasonably assumed they made off with those jewels. The imperial jewels are believed to be valued at eighty million dollars and included the Orloff diamond of 194.1/2 carats, bought in Amsterdam by Count Alexis Orloff and presented to Catherine the Great.
Nicholas’s income derived from three sources. 1) The government appropriation paid annually to the imperial family to allow them to maintain their state – about six million dollars. 2) The proceeds from the estates owned by the imperial family: hundreds of thousands of acres of cotton plantations, vineyards, farms and orchards. The combined income was between one and two million dollars – a small amount because they were badly managed. 3) Interest accrued on deposits in English and German banks.
Altogether, he could count on about twelve million at the beginning of each year.
What did he spend it on?
His family. One hundred thousand annually went to each grand duke. At the time of his coronation, he had two brothers, four uncles, one great uncle, and twelve cousins, all bearing the title of grand duke. Each grand duchess received a dowry of five hundred thousand dollars at the time of her marriage.
Palaces. There were a few residences scattered throughout Russia but the main money-pits were the Winter Palace and Anichkov in St Petersburg, the capital; the Alexander and Catherine Palaces in Tsarscoe Selo, set in a vast park that required six hundred workers; the amazing aqua-paradise of Peterhof on the Gulf of Finland; Livadia on the Black Sea; Gatchina, a fort-like palace. All the palaces had to be kept in good order by at least a skeleton staff.
Servants. Three thousand person served the Tsar and his family, ranging from grand marshals to assistant cooks. All were provided with monthly salaries, food, uniforms and gifts at Christmas and on the Tsar’s birthday. The higher in the echelon of servants, the costlier the gift, such as gold watches and cigarette cases with the Tsar’s monogram, brooches, and rings.
Theatres and charities. The Tsar subsidized three theatres in St Petersburg and two in Moscow, all of which were losing money. He also supported the Imperial Academy of the Arts, many charities, and was open-handed to individuals in need.
There was also the imperial yacht, Standart, which had to be maintained.
It is impossible to say how much Nicholas spent on his expenses, but it is known that he received a legacy from his great grandmother of two million dollars which he used for charity and spent it all within three years. Nicholas the Tsar had, of course, to surround himself in regal splendor. Nicholas the man lived simply.
The last years of his reign were war years. Whatever capital he had left probably went to building hospitals and supporting the inadequate Russian army. It was also the time of the Russian revolution. The Bolsheviks seized everything they could lay their hands on.


Pick up your copy of
Escape of the Grand Duchess

Susan Appleyard



Susan was born in England, which is where she learned to love English history, and now lives in Canada in the summer. In winter she and her husband flee the cold for their second home in Mexico. Susan divides her time between writing and her hobby, oil painting, although writing will always be her first love. She was fortunate in having had two books published traditionally. Since joining the ebook crowd, she has published nine books, some of which have won various awards.

2 comments:

  1. Thank you for taking the time to host Escape of the Grand Duchess on your blog today. Your support, enthusiasm, and lovely posts have made this tour so special. 📖✨

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  2. I can't thank you enough for doing this. You and those like you have made my blog tour so special.

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FIVE MINUTE HISTORY - What happened to the Romanov treasure?

Escape of the Grand Duchess By Susan Appleyard Publication Date: 27th July 2025 Publisher: Ingenium Books Publishing Inc. Page Length: 412 G...