Disclosure: Our content does not constitute financial advice. Speak to your financial advisor. We may earn money from companies reviewed. Learn more
The Isle of Man is a British crown dependency with its own Parliament and prime minister. They also have a long and prestigious history of issuing silver coins. The Pobjoy Mint recently struck the fifteen year anniversary of the Isle of Man's signature Silver Angel coin in 2016. This one troy ounce reverse proof Silver Angel coin contains 99.9% fine silver and features some beautiful metalwork and design.
Isle of Man Silver Angel History and Background
The Isle of Man boasts the first parliament in the world that still exists, dating back to 979. This little island state also has a long and storied tradition of minting coinage going back to the Middle Ages. They began striking consistent coins in the year 1679 and continued this uninterrupted through 1841. The Manx became a British Crown dependency in 1765. This Irish Sea island located in the middle between England, Ireland, and Scotland revived its coinage tradition in the 1960s by issuing not only circulating coins, but also collector's bullion.
Among the firsts that the Isle of Man claims in the world of coins are the first base metal composition pound coin in 1979, the world's only coin with seven sides (featuring an inscription on the edge), the first dual metal coin struck in both gold and titanium, the first coin minted in Braille, and the world's first Christmas season coins. The Isle of Man has issued other bullion coins besides these Silver Angels. Their platinum Nobles and gold Angels have captured investors' attention in the past. They have even won awards for their Penny Black Crown coin. These issues alongside the Isle of Man Silver Angel have ensured an important and coveted place for the Isle of Man in the vanguard of modern numismatics.
The Isle of Man does not maintain its own mint. Its modern coins are struck by the Pobjoy Mint. This biggest private mint in Europe is British based in Surrey County. It strikes stunning coins and medals for a variety of governments, other central banks, and important firms around the globe. The mint's Pobjoy Proof finish and its high quality products have earned it a renowned reputation throughout the world.
Isle of Man Silver Angel Physical Characteristics
All Isle of Man Silver Angel coins have the full faith and credit backing of the (highly credit rated) government of the Isle of Man within the framework of the United kingdom. They are legal tender and minted in smaller quantities of 100,000 for 2016.
The obverse is the front side of the coin. Each Isle of Man Silver Angel features a likeness of Queen Elizabeth II on the obverse. Her Majesty is displayed in right facing profile. The coin's rim contains several inscriptions. Among these are “ISLE OF MAN,” “Elizabeth II,” and the year. Each of the phrases is separated by the national symbol of three connected legs, the historical representation for the Isle of Man.
The reverse back side of the coin features the Biblical Archangel Michael for 2016. In the depiction, Michael fights a terrifying dragon with a spear in his hand. He holds his shield before the dragon's fiery blast which causes the flames to be dispersed in every direction. Michael is piercing the dragon with the spear and triumphing. Such depictions on coins were believed in the Middle Ages to deliver health and fortune to the owners who carried them. The rim is decorated by a chain pattern that curves around it. On the reverse bottom, the word “ANGEL” is inscribed. Over this word are tinier inscriptions “Ag.999. 1 OUNCE.” The coins also showcases a commemorative 15 privy mark to note the 2016 version as the fifteenth year anniversary of the striking of the original Silver Angel coin.
Specifications for the Isle of Man Silver Angel one ounce coins are as follows:
- Mass: 31.1 grams
- Diameter: 38.6 mm
- Thickness: 3 mm
- Content: 99.9% fine silver
Isle of Man Silver Angel Pricing
All 2016 Isle of Man Silver Angel coins include a legal tender face value of one angel. These coins can be spent for this face value in the Isle of Man. In practice, no one would trade one of these beautiful silver coins for the mere face value. This is because these coins have a substantially higher market value.
Face value does not comprise the market value of the coin at all in this Silver Angel's case. The real market value is mostly based on the silver spot price alongside some collector demand versus the available supply. Silver prices rise and fall on weekdays. This also changes the cost and value of the Isle of Man Silver Angel coins every day the market is open. You can obtain the actual live silver price by navigating to our home page.
Can IRA Accounts Contain Isle of Man Silver Angels?
The IRS alone makes the decision as to which bullion coins may be included in precious metals IRAs. Investors who wish to get started with these types of retirement accounts must make an initial minimum $5,000 purchase of precious metals coins or bars which the IRS approves. Subsequent purchases can be made and added for only $1,000 in silver or other precious metals per order. Deciding to add physical silver to this type of self directed IRA provides investors with an effective tangible investment diversification. Stocks and bonds make choppy moves which silver does not typically replicate. This is its appeal as an effective hedge against other traditional forms of investments. With silver's prices so much lower than gold, platinum, and palladium costs, it proves to be an attractive and affordable means of insuring investments. This explains silver's continuing popularity in IRA accounts.
In order for silver coins to be acceptable as bullion in IRA accounts, the IRS requires that they meet several standards. The first is a minimum silver purity of .999 fineness. Isle of Man Silver Angels meet this minimum purity requirement. Another important standard concerns collectibility. As the IRS considers Silver Angels to be more collectible coins than purely bullion issues, the coins do not receive their approval to be included in IRA accounts. This does not change the fact that Isle of Man Silver Angels make fine investment and collectible choices with their uniqueness and low mintages. You can buy them in proof or uncirculated conditions from a number of coin dealers in the U.S. and around the world.
Sign up to learn more. It’s free!
If you’re worried about the economy and want to learn tips on how to protect your retirement savings in case of another systemic collapse, sign up to our monthly newsletter now for free! We cover topics such as: precious metals investing, inflation, currency devaluation, national debt, the Fed’s financial policies, world politics, and much more. Join now and we’ll send you a free PDF report entitled “5 scams to avoid when investing in bullion gold & silver”