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Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins are an almost unknown and coincidentally extremely rare issue of coins from the tiny mountain Buddhist Kingdom of Bhutan in East Asia. Rare world gold coin collectors are fascinated by these unique gems and seek for them.
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins Background and History
A sovereign country located in between Tibet and India, The Kingdom of Bhutan has only recently become a modern constitutional monarchy with an elected parliamentary democracy and prime minister established under a reform-minded king and new constitution back in 2008. The main city and capital of Bhutan is Thimphu. Though tiny Bhutan is an insignificant nation militarily and surrounded by giants China and India, it has managed to keep its sovereign independence to this day through both colonialism and the tumult of two destructive world wars. Historian Rinpoche gives all credit for this astonishing achievement to the third King of Bhutan Jigme Dorji Wangchuck, affectionately known by his countrymen as the Third Druk Gyalpo (Third Dragon King).
King Jigme Dorji Wangchuck was born in 1928 at a critical point in his nation's history. As the third monarch of the tiny Himalayan kingdom, he succeeded both his father and grandfather on the throne. Thanks to his tireless and forward-thinking visionary leadership, Bhutan evolved from isolated, feudal, Buddhist backwater to a forward leaning country which co-values modern infrastructure alongside traditional cultural and environmental legacies. At 24 years of age and with shaky health, King Jigme Dorji Wangchuck started his critical life's work of assuring the independence and sustainability of the kingdom and culture of Bhutan. He was wildly successful in his endeavors and managed to see United Nations' recognition of Bhutan's independence two years before he died with his ally India's support.
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins are therefore a beautiful, tangible piece of history from this little land of 850 square miles that contains a 2008 year population of approximately 700,000. These incredibly rare gold coins from Bhutan were struck intentionally by the reform-minded modernizing king. Only 3,111 of them were minted in proof or brilliant uncirculated form, making them among the rarest of gold bullion pieces on the planet. They were struck by the Royal Monetary Authority in Bhutan and contain .2353 ounces of actual gold.
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins Physical Characteristics
The obverse is the actual name of the front side of coins. The obverse of Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins contains a right facing bust with the words “BHUTAN SERTUM” in the top and the date 1970 on the bottom. The designer and engraver of both sides of the coin is J.H. Waser, as noted on the obverse of the coin.
The back of coins is known in the coin collecting and investing universe as the “reverse.” Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins have a reverse that contains a historic Bhutan seal and Bhutanese legends surrounding it.
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins were struck in only the one Sertum denomination and size. Their specifications are as follows:
- Mass: 7.98 grams
- Gold Content: 0.2353 troy oz
- Diameter: 21 mm
- Thickness: 1.5 mm
- Purity: 91.7% gold fineness
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins Pricing
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins come with a legal tender face value of one Sertum. They can be spent within the little Kingdom of Bhutan on everyday items. No one does this in reality because the intrinsic value of the gold these coins contain is worth in excess of $250. This value is derived heavily off of the world spot gold price. The coins do possess a great deal of collecting premium over the world gold prices because of their incredibly limited mintage of just over 3,000 pieces.
Such coins are therefore practically the true definition of unique, yet as bullion issues they still derive the majority of their market value from the world gold prices. Market value is all that matters to a portfolio of investment or collected precious metals coins. The true market value results from the gyrating world spot gold prices which go up and down six days per week. You can quickly figure out the current price of the yellow metal at any point and time when it is trading by simply clicking on our homepage.
Can IRA Accounts Contain Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins?
Bhutan Gold 1 Sertum Jigme Dorji Wangchuck Coins are highly prized for their historical and rarity factors to investors who appreciate such finer qualities in their coins. Those who are retirement oriented will want to know if these issues may be a part of your IRA account. For better or worse, the IRS is the only agency which has the appropriate authority to approve or reject bullion coins for inclusion in precious metals IRA vehicles. They measure all potential contender coins using a tough dual standard of intensely high gold purity and extremely low premium in collectability.
The IRS is stringent on its requirements for how these IRA accounts containing precious metals are handled. An IRA administrator which is approved by the Internal Revenue Service must take care of all buying and selling transactions. They will make all orders and arrange for the shipping details to get your treasure hoard to the third party vault depository of your choice, so long as it is an IRS approved organization. This depository holds the coins the entire time you have them within your IRA account. You may never touch or inventory the coins unless you take them as a distribution at or before retirement (with a penalty if before your retirement age is attained). You must purchase minimally $5,000 in approved bullion coins to fund the account. Later on you can always add increments of $1,000 minimum in additional bullion pieces if you want. If you already happen to have a traditional IRA account, it is not difficult to roll it on over into a self directed IRA.
As far as the approval decision regarding these gold coins from Bhutan, they contain only 91.7% gold purity, which is less than the rigorous IRS requirement of 99.5% purity. The IRS also regards these as rare collectible coins and not truly bullion pieces. Both failures mean that you are not allowed to purchase these coins for your IRA. They still make excellent selections for other types of retirement and investment accounts, though they are not easy to track down. You might have to commission a coin dealer to search for one in order to buy it.
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