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Macau Gold Year of the Monkey Coins
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Macau Gold Year of the Monkey Coins are a fairly unique idea from one of the former self-governing colonial outposts of the far flung Portuguese Empire. These Chinese Lunar Calendar coins always prove to be popular around the world for their interesting portrayals of animals of the zodiac. This particular piece is a proof Year of the Monkey coin issued in .9999 highly pure gold. What makes it unique from other Year of the Monkey Coins issued by the likes of Singapore is that the flowers are colorized and the monkey is curious.
Macau Gold Year of the Monkey Coins Background and History
Macau is a city set on a peninsula that used to be an island. A sandbar over time evolved into a narrow isthmus which transformed Macau into a true peninsula. The locality was built up by the Portuguese Empire when they acquired it in the European colonial partition of China into spheres of influence. China seized Macau back from Portugal in 1999, around the time that the lease on Hong Kong expired and it was returned by Great Britain to China.
The 2016 issued Macau Gold Year of the Monkey Coins feature the traditional monkey which has long been regarded as a symbol both of luck and honor. The Monetary Authority of Macau has been issuing its Macau Lunar Coin Collection from 2008 to 2019. The revered Singapore Mint strikes these pieces on Macau's behalf. As the ninth coin in the series, the Macau Lunar Monkey Gold Coin coincides with the Chinese Year of the Monkey.
These coins are guaranteed by the Singapore Mint for both gold purity and weight. Their denomination is 250 Patacas. With a full quarter ounce of .9999 highly pure gold, the coins come in a box and complete with an official certificate of authenticity co-issued by the Monetary Authority of Macau and the Singapore Mint.
Macau Gold Year of the Monkey Coins Physical Characteristics
The obverse is the technical nomenclature used to describe the front side of coins. The 2016 Macau Gold Year of the Monkey Coins feature a monkey in this particular year of the series. The monkey carries a peach as well as a group of peach blossoms which are literally depicted in full colorful bloom. Peaches symbolize immortality, abundance, wealth, long life, and eternal good fortune for the new year in Chinese culture and mythology.
The back of coins is known officially as the reverse. Macau Gold Year of the Monkey Coins' reverses portray the image of the UNESCO World Heritage listed site the Holy House of Mercy found in the historic old center of Macao. This sacred spot has long been a place which offered social and medical help for society's underprivileged. Nowadays, it is a museum which contains an interesting and wide-ranging collection honoring charity in Macao.
Macau Gold Year of the Monkey Coins were issued in only the single size of quarter ounce. Their specifications are as follows:
- Mass: 7.78 grams
- Diameter: 21.96 mm
- Gold Content: 0.25 troy oz
- Purity: 99.99% gold fineness
Macau Gold Year of the Monkey Coins Pricing
Macau Gold Year of the Monkey Coins carry a legal tender face value of 250 Patacas. They can be spent for this considerable sum anywhere in the enclave of Macau. In practice, no one would do so since the gold content is worth over $250. The value of the coin is mostly determined by the varying spot gold prices. As rare and sought after world gold coins from a unique territory, these coins carry a rather higher premium over the spot price of gold.
These uniquely colorful coins derive their actual market value from the values of their intrinsic gold content. Market value is what matters when valuing a retirement, investment, or coin collecting portfolio based upon the pieces it contains. The actual market value of the coins is significantly based upon the shifting prices of gold on the international markets. These go up and down six days a week, Sunday through Friday. You can easily determine the present live prices of gold by going to our homepage.
Can IRA Accounts Contain Macau Gold Year of the Monkey Coins?
Macau Gold Year of the Monkey Coins are exotic enough to make you wonder if the picky IRS will allow you to purchase and hold them with your IRA. The determination comes down entirely to the Internal Revenue Service at their sole discretion. They use the two tiered standards of a high gold purity minimum and a low collectability premium to decide.
In order to set up such an account, the IRS requires that you begin by purchasing at least $5,000 in qualified bullion coins or bars of gold, silver, platinum, and/or palladium. Subsequent purchases can be added for as little as $1,000 minimum of additional bullion pieces. In order to set up such an account, you are required to hire an IRA account administrator company which will handle all orders for sanctioned bullion coins on your behalf. These IRA account experts will do more than just buy and sell your treasure trove, they will make arrangements for shipping from the coin or bullion dealer to the third party depository for vaulting and maintenance of your coins. You can not accept delivery of these coins nor store them at home or in your local bank safe deposit box. If you already own an IRA account that is not allowed to invest in gold and the other precious metals, you can simply roll it over to a self directed precious metals IRA account.
Regarding the approval or disapproval of the Macau Gold Year of the Monkey Coins, they contain a highly pure .9999 gold fineness which even exceeds the IRS' demanding minimum standard of at least .995 fineness. The coins run afoul of the IRS with their higher than acceptable collectors' premium over spot gold prices. The IRS fails these 2016 coins because of how collectible they are today. Just because you are not allowed to inventory any of these lovely pieces in your IRA retirement account does not mean that you should not acquire them for other kinds of retirement and investment portfolios. You can buy them directly from the Singapore Mint which strikes them or from world bullion and coin dealers.
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