Cook Islands Silver Bounty Coins are part of an annual release of bullion pieces. With their theme from great classic work of literature the Mutiny on the Bounty, they add historic and literary appeal to any coin collection or investment portfolio. Each of these gems contains an impressive 99.99% silver purity with a clean and straightforward design that both investors and collectors will appreciate.
Photo Courtesy of APMEX
Cook Islands Silver Bounty Coins History and Background
The islands discovered by legendary British explorer Captain James Cook bear his name to this day. They are comprised of 15 individual volcanic islands as well as coral atolls spread throughout an incredible more than 770,00 square miles of the South Pacific Ocean. The islands themselves lie between Fiji and French Polynesia (Tahiti, Bora Bora, and Reunion). Captain Cook found and explored them on behalf of the European world in 1773. When he arrived, he found tribes of a Polynesian descent.
The islands nation enjoys a laid back and calm Polynesian lifestyle. Stunningly blue water and skies adjoin with powdery white sand beaches. Tourism is the largest industry in the country, though second industries of offshore banking, pearls gathering, and fruit and marine exports are also important. The country was long a part of the British Empire, though it became a protectorate under the auspices of British Commonwealth member New Zealand in 1901. Today, New Zealand does not have any control over the island nation's external affairs. Since 2005, the islands have enjoyed their own diplomatic relations with eighteen different countries in their own name.
Today's Cook Islands are a well-known coin issuing sovereign state. They have gained fame in the numismatic world for their wildly successful Windows of Heaven and Masterpieces of Art series along with their high-end Precious 6 in 1 coins and Luxury Line coins. These Cook Islands Silver Bounty Coins are a true bullion issue with only 5,000 pieces issued in total. The renowned silver minting company Sunshine Minting manufactures these bullion pieces on behalf of the nation which does not maintain its own minting facilities. These gems are all officially sovereign coins that are fully backed by the government of the Cook Islands and carry a legal tender face value.
The Cook Islands Silver Bounty Coins are guaranteed by the manufacturer Sunshine Minting and the government of the Cook Islands to meet their specifications for actual silver purity, weight, and content.
The obverse is always the name for the front side of any coin. Cook Islands Silver Bounty Coins contain an obverse depicting a portrait of the internationally known ship HMS Bounty, which was led by the infamous Captain William Bligh, a British sea captain and colonial administrator. Below the ship image, the coin declares its face value as “1 DOLLAR.” In an arc along the rim below this, it states the silver weight and purity as “1 OUNCE FINE SILVER .9999”
Photos Courtesy of APMEX
The reverse is the name given to the rear side of every coin. Cook Islands Silver Bounty Coins have a reverse which portrays the same image of every Commonwealth of Nations member state. This is the effigy of Her Majesty Queen Elizabeth II of Great Britain, Canada, Australia, New Zealand, the Cook Islands, and a number of other mostly island countries. Ian Rank-Broadley designed this image of the Queen.
Cook Islands Silver Bounty Coins' specifications for the $1 dollar denominated, one ounce coins are as follows:
Mass: 31.1 grams
Diameter: 39.73 mm
Thickness: 2.98 mm
Silver Content: 99.99% pure in one ounce
Cook Islands Silver Bounty Coins Pricing
Cook Islands Silver Bounty Coins are legal tender in all 15 isles of the Cook Islands. These single ounce coins have a face value of one dollar as do many other one ounce silver coins of the world. The coins declare this actual legal tender face value upon their obverse. It would be foolhardy to spend such gems for the mere $1 face value since their silver intrinsic value proves to be a number of times greater than this. These coins feature unbelievably low mintage for bullion pieces with only 5,000 ever struck in 2017. It helps to explain the reasons that they trade at substantial premiums greater than the day to day spot price of silver.
The market value of these coins is the important one that provides these self directed IRAs with their account values. Precious metals IRAs that hold them will fluctuate in value during the trading week from Sunday through close of business day Friday. This will lead to the values of these Cook Islands Silver Bounty Coins rising and falling every market trading day alongside the prices for spot silver. You can easily look at the real time spot prices of silver and spot prices of gold by navigating over to our home page at your convenience.
Can IRA Accounts Contain Cook Islands Silver Bounty Coins?
It is up to the American Internal Revenue Service to determine which silver coins they will permit to be in an IRA. They require that you first purchase minimally $5,000 worth of silver and other precious metals bullion in order to fully open a self directed IRA account. Later on you can always add another $1,000 or more in minimum additional purchases.
When you inventory such physical silver bullion within your retirement accounts, you obtain a unique form of diversification. The reason for this is silver prices move differently from stocks, bonds, and other traditional asset classes. This is why it is an affordable hedge for your portfolios which costs substantially less than gold, platinum, and palladium do.
The IRS judges silver coin contenders for inclusion in a silver IRA on two standards. It must meet a minimum purity level of .999 fineness. It must also not be deemed by them to be too collectable and with too high a premium over silver spot prices. These Cook Islands Silver Bounty Coins do exceed the standard of purity with their .9999 silver fineness. They fail on the second standard because their tiny mintage of only 5,000 pieces suggests to the IRS that they are more collectable in nature with higher premiums over spot prices. Though the IRS will not permit you to inventory them in your precious metals IRA account, they are still fine choices for other types of investment and retirement accounts. You can pick them up from various world coin dealers, although they may have to search for them.
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