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Precious metals are rare, naturally occurring metallic chemical elements of high economic value. Chemically, the precious metals tend to be less reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
The Malaysian ringgit is the currency of Malaysia. It is divided into 100 sen (cents). The ringgit is issued by the Central Bank of Malaysia.
The Royal Canadian Mint is the mint of Canada and a Crown corporation, operating under the Royal Canadian Mint Act. The shares of the Mint are held in trust for the Crown in right of Canada.
The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. Because the term "eagle" also is the official United States designation for pre-1933 ten dollars gold coins, the weight of the bullion coin is typically used when describing American Gold Eagles to avoid confusion. This is particularly true with the 1/4-oz American Gold Eagle, which has a marked face value of ten dollars.
The American Platinum Eagle is the official platinum bullion coin of the United States. In 1995, Director of the United States Mint Philip N. Diehl, American Numismatic Association President David L. Ganz, and Platinum Guild International Executive Director Jacques Luben began the legislative process of creating the Platinum Eagle. After over two years of work, the 99.95% fine platinum coins were released by the United States Mint in 1⁄10, 1⁄4, 1⁄2 and 1 troy oz denominations. In late 2008, the fractional denominations were discontinued, leaving only the one ounce denomination. The Platinum Eagle is authorized by the United States Congress, and is backed by the United States Mint for weight, content, and purity.
The Canadian Gold Maple Leaf (GML) is a gold bullion coin that is issued annually by the Government of Canada. It is produced by the Royal Canadian Mint.
A bullion coin is a coin struck from refined precious metal (bullion) and kept as a store of value or an investment rather than used in day-to-day commerce. A bullion coin is distinguished by an explicit statement of weight and fineness on the coin; this is because the weight and composition of coins intended for legal tender is specified in the coinage laws of the issuing nation, and therefore there is no need for an explicit statement on the coins themselves. The United Kingdom defines investment coins more specifically as coins that have been minted after 1800, have a purity of not less than 900 thousandths and are, or have been, legal tender in their country of origin. Under United States law, "coins" that fail the last of these requirements are not coins at all, and must be advertised as "rounds" instead. The American Eagle and Canadian Gold Maple Leaf series are the only coins available in gold, silver, platinum, and palladium.
The Chinese Silver Panda is a series of silver bullion coins issued by the People's Republic of China. The design of the panda is changed every year and minted in different sizes and denominations, ranging from 0.5 troy oz. to 1 kilogram. Starting in 2016, Pandas switched to metric sizes. The 1 troy ounce coin was reduced to 30 grams, while the 5 troy ounce coin was reduced to 150 grams. There is also a Gold Panda series issued featuring the same designs as the Silver Panda coins.
The Canadian Silver Maple Leaf is a silver bullion coin that is issued annually by the Government of Canada. It is produced by the Royal Canadian Mint.
The American Buffalo, also known as a gold buffalo, is a 24-karat bullion coin first offered for sale by the United States Mint on June 22, 2006, and available for shipment beginning on July 13. The coin follows the design of the Indian Head nickel and has gained its nickname from the American Bison on the reverse side of the design. This was the first time ever that the United States Government has minted pure (.9999) 24-karat gold coins for the public. The coin has a legal tender (face) value of US$50. Due to a combination of the coin's popularity and the tremendous increase in the price of gold since its creation the coin's value has increased considerably in a short time of just a few years. The initial 2006 U.S. Mint price of the proof coin was $800. In 2007 the Mint proof coin was $899.95, $1,410.00 in 2009, and $2,010.00 in 2011.
The Kelantanese dinar is a currency issued by the Government of the Malaysian state of Kelantan, which purportedly is in conformance with the concept of the Islamic gold dinar. The Kelantanese dinar is available in the form of coins of several denominations. These coins were first struck in 2006 by Mariwasa Kraftangan of Kuala Kangsar, Perak, a local producer of souvenirs and replicas of objects of art and culture, and launched by the state of Kelantan on 20 September 2006. The Government of Kelantan had suggested that the coins had the status of legal tender, and the state-issued dinar sold out quickly, with many buyers seeing the gold dinar as a better choice than fiat money.
The Canadian Platinum Maple Leaf is the official bullion platinum coin of Canada. First issued by the Royal Canadian Mint in 1988, it was available until 2002 in five different denominations, all of which are marked as containing .9995 pure platinum. The bullion coin was partly reintroduced in 2009 in the form of the 1 troy ounce denomination in .9999 purity, featuring a new portrait of Queen Elizabeth II on the obverse. The coins have legal tender status in Canada, but as is often the case with bullion coins, the face values of these coins is lower than the market price of the material they are made from.
The Chinese Gold Panda is a series of gold bullion coins issued by the People's Republic of China. The Official Mint of the People's Republic of China introduced the panda gold bullion coins in 1982. The panda design changes every year and the Gold Panda coins come in different sizes and denominations, ranging from 1⁄20 to 1 troy ounce.
The Russian George the Victorious coins are bullion coins issued in gold and silver by the Central Bank of Russia. The gold coins have a face value of 50 rubles and have been minted since 2006. The silver coins are Russia's first bullion coins in that metal; they have a face value of 3 rubles and have been minted since 2009.
Orzeł bielik gold coins are a series of gold bullion coins of .9999 purity, issued by the Polish National Bank. These coins were minted on the order of the President of the Polish National Bank on 12 June 1995.
A gold coin is a coin that is made mostly or entirely of gold. Most gold coins minted since 1800 are 90–92% gold, while most of today's gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo. Alloyed gold coins, like the American Gold Eagle and South African Krugerrand, are typically 91.7% gold by weight, with the remainder being silver and copper.
The Vienna Philharmonic, often shortened to Philharmonic, is a bullion coin of gold, silver, or platinum produced by the Austrian Mint. The coin is named for the Vienna Philharmonic orchestra, which inspired the design of both sides. It was introduced in 1989 as a one-troy ounce (ozt), gold coin with a face value of 2,000 Austrian schillings. It is generally one of the world's best selling bullion coins. In 2002, with the adoption of the euro currency, the nominal value of the one-ounce coin was changed to 100 euros. In 2008, the Mint introduced a one-ounce silver version of the coin with a nominal value of 1.50 euros. The silver coin is also one of the top selling bullion coins, ranked third in 2013. In 2016, the mint introduced a one ounce platinum coin with a face value of 100 euros.
The Noah's Ark silver coins are Armenian bullion coins issued since 2011. They are available in various sizes with a fine weight between 1⁄4 ounce and 5 kg in silver of 999/1000 fineness. The 1 oz. coin has a nominal value of 500 Drams and is a legal tender in Armenia. The coin is produced by the Leipziger Edelmetallverarbeitungs GmbH, an affiliated company of Geiger Edelmetalle. The motif of the coin remains constant, similar to other bullion coins such as the Canadian Silver Maple Leaf, the Vienna Philharmonic, or the American Silver Eagle.
The Korean Tiger Bullion Series Medal is a series of gold bullion medals issued by the Korean Minting, Security Printing & ID Card Operating Corporation (KOMSCO). The first series was introduced in June 2016. The medals are minted in the following denominations of 1/4 oz, 1/2 oz, and 1 oz of 99.99% of fine gold.
The Melita bullion coins are a series of silver and gold bullion coins issued by the Central Bank of Malta in collaboration with Lombard Bank since 2018. They exist in four different euro denominations and are legal tender in Malta. The coins depict the national personification Melita, and their design is based on Edward Caruana Dingli's Melita issue postage and revenue stamps of 1922–26.
References
- ↑ Speech by Prime Minister of Malaysia at the Launching of Kijang Emas
- ↑ Bank Negara Malaysia website Archived 2012-01-07 at the Wayback Machine
- ↑ "Kijang Emas as an Investment". Archived from the original on 2008-01-18. Retrieved 2008-01-20.
- ↑ Kijang Emas Daily Market Price