In 2010, Israel proudly introduced its very first gold bullion to the world in the form of the .9999 fine Israel Tower of David coins. This is the first in the Jerusalem of Gold series. It comes denominated with a face value of 20 New Sheqalim and is sure to be a hit with international coin collectors and investors alike.
Israel Tower of David Coins Background and History
The Holy Land Mint made a shrewd decision when it began to issue this new Bank of Israel backed Jerusalem of Gold series back in 2010. They opted to have the Royal Dutch Mint strike their first year issue the Israel Tower of David coins with an incredibly restricted mintage of only 3,600 coins. As you might expect, the first year sold out in no time. All coins in this series are issued in legal tender and bear a stated face value of 20 New Sheqalim. Each of these sharply engraved pieces contains an impressive .9999 gold purity. Israel's original gold bullion coins have a price tag that varies with the international daily price of gold along with a premium over the spot metal price.
The new bullion coins were intended to have value to both investors and collectors. All of the bullion gold coins in the new series portray a beloved historical landmark within Jerusalem's eternal old city. A single theme appeared each year beginning in 2010 with the Tower of David. All coins are issued in an original box and include a certificate of authenticity. The coins were designed by Meir Eshel.
Israel Tower of David Coins Physical Characteristics
The front side of coins is known by their official name as the “obverse.” Israel Tower of David coins' obverse contains a portrait of the Tower of David. This important ancient world stronghold was constructed in the second century B.C. to strengthen the defenses of the old walled city. The obverse contains a few different phrases inscribed. It says in Hebrew, Israeli, and English “Jerusalem,” the face value “20 New Sheqalim” and “1 Oz. Fine Gold .9999.” The Star of David depicted here represents the mint mark for Israel. This design on the obverse changes with each year's new and varied theme.
The back side of the coin is known as the “reverse.” These coins' reverse remains the same year in and year out in the series. It features the long time Israeli symbol of the Lion of Megiddo. This beast has a curved tail and comes from a ancient seal that was found excavated from Megiddo fortress in the Jordan River Valley. It dated from the eighth century B.C. The seal itself was the property of Shema, an official of the Israelite King Jeroboam II. The lion also serves as the Kingdom of Judah and Tribe of Judah symbol, as well as the symbol of Jerusalem itself. This exact lion has graced Israeli circulating currency and coinage including the 1958 issued Israeli 5 Lira Banknote, the 1978 issued 5 Lira Coin, and the 1980 issued Half Sheqel Coin. Atop the lion's figure is the Emblem of the State of Israel along with the single word “Israel” inscribed in English, Hebrew, and Arabic.
With .9999 gold fineness, the Israeli Tower of David gold coins are among the purest in the world. Their specifications are:
Mass: 1 troy ounce
Diameter: 32 mm
Thickness: 3 mm
Purity: 99.99% gold
Israel Tower of David Coins Pricing
Israeli Tower of David gold coins are legal tender in Israel today. Each coin depicts the face value of 20 New Sheqalim. This face value gives the coins a minimum guaranteed value, but it does not comprise the total intrinsic value of these beautiful pieces which are substantially higher. The market value of such coins is based mostly on the spot price of gold along with some supply and demand dynamics.
In truth it is this intrinsic value of the Tower of David coins which makes their market value and prices. The market value determines these coins' worth in a portfolio of retirement or investment holdings. These gold bullion coins command a premium over gold spot prices. Their collectible nature along with tiny mintage contributes to their value for collectors and investors alike. Production and distribution costs help to justify this substantial premium over spot gold. The true market value of these issues goes up and down every market trading day as do gold prices themselves. You can quickly ascertain the real time price of gold simply by clicking on our homepage.
Can IRA Accounts Contain Israel Tower of David Coins?
It is entirely up to the American Internal Revenue Service as to whether or not a bullion precious metals coin can be included in an IRA retirement account holding. Precious metals IRAs can only acquire and contain those bullion coins that meet a high standard of both purity and collectibility. To fund such a precious metals account, you must first make a minimum initial purchase of $5,000 or more in approved bullion bars or coins. Later purchases can be obtained for the lesser amount of $1,000 in coins which are approved. If you happen to have another kind of IRA account, this can be simply rolled over to a self directed IRA precious metals account. Once your sanctioned bullion coins have been bought and received by your IRA administrator, they must be immediately stored by an IRS approved depository vault. These vaults both maintain and safeguard your gold bullion investments while they are a part of your IRA account.
Though they are beautiful and highly sought after pieces, the Israeli Tower of David gold coins may not be a part of your precious metals IRA. They do surpass the minimum purity standards of .995 gold with their impressive .9999 fineness. The problem is that they are so very rare and of such limited issue that the IRS deems them to be more collectible coins than bullion pieces. The IRS takes issue with their premium over spot gold prices. Even though they may not be a part of your self directed IRA, these Israeli Tower of David gold coins make wonderful investment choices for other types of retirement or investment portfolios. You can purchase them from any international coin dealer who happens to have them in stock.
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