The Republic of South Africa holds the unique honor of having created the world's first bullion coins in its 1967 gold Krugerrand. With the largest economy in Africa and the biggest population of European and Indian descent on the continent, they have also branched out into silver coins as well. Their bullion coins are well respected and accepted around the world.
As South Africa spent time as a Dutch and then British colony, it has a varied history of coin usage. Their first circulating coins were Dutch and then British during the colonial years. The country's tradition of domestically minted silver issues goes back to 1892 when the Dutch farming Boer state that became known as the Transvaal struck its first silver coins. After the Boer Wars when Britain assimilated the Dutch self governing colonies into its own, these Boer States combined with the British Cape Colony into the Union of South Africa. From this point forward, their coins were similar to those of their colonial homeland Great Britain. These first silver coins from the Union appeared in 1923 and had 80 percent silver purity. The country altered the purity of these coins to 50 percent in 1951.
South Africa gained its independence then changed its coinage over to a decimal based coin system called the Rand in 1961. Silver coins circulated through 1965. From this point on, the South African mint continued to strike silver and gold coinage only as commemoratives and bullion issues. They enjoy the fame of having developed single handedly the world's first bullion coin the Krugerrand. Today's South African Mint remains the leading coin producing facility in Africa and boasts more than 100 years of experience in minting and supplying coins for Africa and around the globe. With fifty years of tradition in producing high quality bullion and commemorative coins, they also provide their services to other governments and customers around Africa.
In 2012, the South African Mint struck and offered its beautiful silver bullion South African Pel’s Fishing Owl Coin. This coin became extremely rare from the moment they created it, as the mint only released 1,000 pieces.
The front side of any coin issue is known as the obverse. These coins feature the Flying Pel's Fishing Owl facing right. The bird flies in front of trees located on the bank of a river pictured above it. The value of 20 cents is denominated at the bottom of the obverse.
The backside of coins is called the reverse. The South African Pel’s Fishing Owl Coin showcases the fourth coat of arms for South Africa which has been utilized from April 27, 2000. The displayed motto !KE E: /XARRA //KE inscribed translates to Unity in Diversity. The initials of the artist Arthur L. Sutherland are noted on the lower left as ALS. The top of this reverse states the year 2012, while the bottom has inscribed the name of the county in English, SOUTH AFRICA, along the coin's rim.
Specifications for the one ounce proof South African Pel’s Fishing Owl Coin coins are as follows:
All South African Pel’s Fishing Owl Coins feature a minor face value of 20 cents. This legal tender status allows people to spend these coins around South Africa. The truth is that no one would spend such a limited edition coin for this paltry face value. These issues possess a substantially higher market value premium than the tiny face value.
Face values like this do not make up bullion coins' market values. South African Pel’s Fishing Owl Coin intrinsic market value fluctuates daily based on the silver spot price and available supply and demand. Silver prices go up and down all throughout the trading week. It makes the values of these Pel's Fishing Owl Coins move up and down during the week as well. You can figure out the actual live silver price by navigating over to our home page.
The IRS has full authority over which bullion coins they permit to be included in precious metals IRA accounts. Investors who wish to open such a self directed IRA have to begin with a $5,000 first purchase of precious metals which the IRS sanctions. Subsequently they can place additional coins in these accounts with only $1,000 minimum purchases from silver and other precious metals. Holding physical silver in this type of retirement account provides investors with one of a kind diversification for their other traditional investments. Stocks and bonds often move sharply up or down. Silver does not typically make such correlating moves with these other investments. Its long history of providing a dependable hedge in times of uncertainty and instability is one of the features that make silver popular in IRA accounts. Its affordability is another reason that people turn to silver for their retirement vehicles. Silver prices are always much lower than gold, platinum, and palladium. This provides silver bullion owners with an investment insurance that is cost effective.
In order for such silver bullion coin issues to be permissible in IRA accounts, the IRS mandates that they much demonstrate certain silver purity levels. Their requirement is for approved silver coins to contain at least .999 fine silver to be included in the precious metals IRAs. The South African Pel’s Fishing Owl Coins have only .925 silver content purity, which means they may not be purchased for these IRA accounts. They are also considered to be too rare and collectible in nature according to the strict IRS rules. This does not mean that the South African Pel’s Fishing Owl Coins are not fine choices for other investment portfolios and collectible purposes. You are able to buy them as they are available from coin dealers around the world.
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