This is perhaps a contemporary counterfeit:

http://cgi.ebay.com/RARE-1901-AP-RUSSIA-SI...1QQcmdZViewItem

Originals were struck only in proof for the Redko (AP) sets that year.

RWJ

To me it looks like a counterfeit for circulation, which actually circulated.

The inside of the "0" in the date looks too narrow to me.

I sent the seller of this coin the following question:"How do you explain the fact that there were only proof coins struck for the 1901-AP 20 kopeek series? This coin is obviously not a proof strike; besides, the inside of the ''0'' looks too narrow to me to be genuine."

Today he answered: "It is a proof that was circulated is what I am told by the expert. Regards, MARTY"

I replied: "You need to get another expert!"

Not only the entire date looks wrong, but also the bottom of the wreath.

I sent the seller a note to the effect that it was a contemporary counterfeit. He replied, asking for further details. I explained that these dies did not match the genuine dies and sent a jpeg of a genuine coin so that he could make his own comparison. The eagle tail feathers are badly done on his piece as is the reverse wreath bow, as noted by bobh. I did NOT tell the seller that it was a circulated proof.

RWJ

This is a photograph, of an original, that was furnished to the seller:



RWJ