Fiji Great Wave Silver Coins are a unique way to own bullion silver. This one-time British colony island nation has made a name for itself in the world silver coin arena by producing limited mintage one, two, three, and five ounces, and kilogram sized silver pieces. With their mintages seldom exceeding 50,000 and some of their coins colorized, these gems are a great way to own exotic Pacific Ocean nation silver bullion.
Photo Courtesy of The Coin Shoppe
Fiji Great Wave Silver Coins History and Background
Fiji Great Wave Silver Coins are a product of the island chain country found off of the coasts of New Zealand and Australia. Fiji produces a wide range of coins, including both commemorative and bullion pieces. All of them come with extremely limited mintages and depict such great themes as the Gettysburg Address of Abraham Lincoln, the endangered species Taku turtle, and the 70th birthday of sports legend and boxing icon Muhammad Ali.
The 2017 bullion issue from the island archipelago is the Fiji Great Wave Silver Coin. This piece portrays The Great Wave off Kanagawa, which is the greatest and most famous artwork of ukiyo-e artist legend Katsushika Hokusai of Japan. The coins are minted by Scottsdale on behalf of Fiji with only 50,000 struck, giving them a strong collectability factor as well as bullion appeal.
The Great Wave, or sometimes called simply The Wave, turns out to be a colorized woodblock print. Hokusai published it between 1830 and 1833 during the later years of the Japanese Edo period. It was his first print in the artist's series “Thirty-six Views of Mount Fuji.” As Hokusai's best known artwork, this theme is also among the most easily recognized Japanese works of art on the planet.
Photo Courtesy of ArtHistory.us
The original wood block print portrays a huge wave which threatens the boats lying off the coast of Kanagawa Prefecture. This has often been assumed to be a tsunami, yet the picture title has indicated the incident was more probably an enormous rogue wave. Like all of the series' prints, this theme explores the Mount Fuji area under certain scenarios and conditions. This is why the mountain lies in the background of the original artwork as pictured above.
Fiji Great Wave Silver Coins Physical Characteristics
The Fiji Series Silver bullion coins are guaranteed by the manufacturer Scottsdale to meet the specifications for their silver purity, weight, and content. The design changes most years. While the 2017 design depicted The Great Wave, the 2015/2016 design was the Fiji Iguana.
The obverse is the front side of a coin. Fiji Great Wave Silver Coins have an obverse of Katsushika Hokusai's famed color woodblock artwork entitled The Great Wave off Kanagawa. The silver weight and purity are presented along the right middle rim of the coin obverse. The design is standout and uniquely themed for honoring an internationally known work of art on a silver bullion coin surface.
Photos Courtesy of APMEX
The reverse is the rear side of a coin. Fiji Great Wave Silver Coins feature the crest of Fiji alongside the word “FIJI” and the year of issue “2017” at the top. At the bottom is the denomination, written as “1 DOLLAR.” A sunray like pattern runs along the edge of the rim surrounding the coin's reverse.
Fiji Great Wave Silver Coins' precise specifications are as follows:
Mass: 31.1 grams
Diameter: 38.6 mm
Thickness: 3.2 mm
Silver Content: 99.9% pure in one ounce
Fiji Great Wave Silver Coins Pricing
The face value of Fiji Great Wave Silver Coins is one dollar. The coins all state their legal tender face value on the obverse side. No one would bother to spend them for this paltry legal tender value though, given that the intrinsic value of the silver they contain is many times higher than this. The market value is much greater than the face value because of it. The coins have limited mintage which explains why they trade at a significant premium over the daily spot price of silver.
It is this market value of these pieces that gives the self directed IRAs and precious metal IRAs accounts their values. Silver prices can and do go up and down most every trading day of the week (including Sundays when the precious metals markets open for the week). This also causes the daily prices of the Fiji Great Wave Silver Coins to vary up or down each market trading day. You are able to investigate the current real time spot silver and spot gold prices simply by clicking over to our home page at any point.
Can IRA Accounts Contain Fiji Great Wave Silver Coins ?
The Internal Revenue Service is the American authority which governs the silver IRA accounts. This makes them the only one to determine which bullion coins may be contained within a precious metals IRA. Setting up such a self directed IRA account requires that investors begin with a minimally $5,000 worth of IRS sanctioned bullion. Subsequent purchases can be transacted through your IRA account administrator starting with only $1,000 minimums.
Keeping this kind of physical silver in your retirement and investment accounts provides you with a unique diversification for your portfolio. This is because silver prices fluctuate differently than stock and bond markets do. It makes them a solid hedge for declines in traditional asset classes and investments. Silver has long been a popular choice in these types of IRAs exactly because it is so much less expensive than the other precious metals gold, platinum, and palladium.
The IRS insists on two different standards being met in order for them to approve of these silver bullion coins in an IRA portfolio. They must first attain a minimum silver purity level of .999 fineness. These Fiji Great Wave Silver Coins do meet this first rigorous standard. The second requirement is that the coins are not considered to be too collectable and with too high an additional premium over spot silver prices. As the mintage is so limited and the premium is significantly greater than spot silver prices on these issues, the IRS does not approve them for inclusion in IRA accounts. This does not mean that Fiji silver bullion coins are not an excellent and unique choice for other types of retirement and investment accounts and portfolios. You can buy them from a wide range of world coin dealers in nations around the globe or online.
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