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Turkey Gold 100 Kurush Coins were minted with both historic and artistic designs in mind. It is not hard to imagine why these fairly rare Ottoman Imperial coins remain so very popular among the stable of historic world gold coins today. For anyone in the market for Middle Eastern gold, this is some of the finest available.
Turkey Gold 100 Kurush Coins Background and History
Turkey Gold 100 Kurush Coins are throwbacks to the glory days of the mighty Ottoman Empire. There was a several centuries long day and age where this ultimate Muslim superpower represented the single greatest empire in either Europe or the Middle East. At one point, it effectively stretched from North Central Africa through Libya and Egypt, most of the Middle East and Arabian Peninsula, Turkey, Jordan, Iraq, Greece, Cyprus, and the Balkans all the way up to the very gates of Vienna in Austria. Until the empire's forced breakup for being on the wrong side of the fight in World War I, it still covered Turkey and much of the Middle East even in its terminal days as the so-called “sick old man of Europe.”
Gold coins minted within the confines of modern day Turkey stretch back nearly 5,000 years. The very first gold coins were struck in the ancient world Kingdom of Lydia at Sardis its fabulously wealthy capital. These Greek-styled coins date from the 7th century B.C., meaning that gold and Turkey go back together for over 2,500 years of mutual history. Thanks in no small part to this long-standing historical connection between the yellow metal and the territory of Turkey, it should not come as a great surprise that the country has minted a wide range of differing denominations of gold coins. These include Sultani, Yarim, Serifi, Cifte, Istanbul, Tek, Dort, Onluk, Luk, Mahbub, Altin, Lire, and Piastres.
These beautifully calligraphy-inscribed coins were produced in the waning, final years of the Ottoman Empire in the latter part of the 19th and early part of the 20th centuries, especially under the reign of Sultan Abdul Hamid II. One hundred Kurush coins weigh 7.2160 grams and contain .2127 ounces of precious gold. These coins are quite popular with collectors and investors today. Other investors have ignored Turkish gold coins because of the confusion brought on by the Arabic-styled Turkish script of the earlier series. Modern Turkish coins can be difficult to identify, which means that Turkish coin collectors are able to source inexpensive Turkish coins that can be rare and valuable without the seller being aware of this fact.
Turkey Gold 100 Kurush Coins Physical Characteristics
Turkey Gold 100 Kurush Coins only come in the single denomination and are similar in size with a higher gold content than their contemporary Swiss, French, and Belgian 20 franc competitors.
The front side of coins is referred to by the name of “obverse” around the world. Turkey Gold 100 Kurush Coins' obverse depicts the symbol of the Sultanate of the Ottoman Turkish Empire, Toughra. This Toughra is encircled by stars and sprigs.
The coin “reverse” refers to the rear side of coins. Turkey Gold 100 Kurush Coins highlight an inscriptions which is enwreathed and topped by a single star. These coins were all struck at the famed Constantinople Mint which produced countless troves of gold Byzants for the 1,000 year reigning Byzantine Empire before it became the mint for the conquering Ottomans.
Turkey Gold 100 Kurush Coins' dimensions are as follows:
- Mass: 7.2160 grams
- Diameter: 22.3 mm
- Thickness: 1.4 mm
- Content: 0.2127 troy oz gold
- Purity: 91.67% gold
Turkey Gold 100 Kurush Coins Pricing
Turkey Gold 100 Kurush Coins are still legal tender within the modern day Republic or Turkey, though the Ottoman Empire has long been consigned to the proverbial dustbin of history. With an unknown actual face value in a country long using Turkish lira, it would be the height of folly to spend a coin with over a fifth of an ounce of gold on daily needs and purchases. The gold which they contain is worth in excess of $250 by itself. This means that the intrinsic value of the pieces comes from spot gold prices on the world markets. A minor premium also applies for their historical nature from the dying days of the still vast Ottoman Empire at the time.
Such intrinsic value makes up the actual market value of the coin. This matters immensely since the coins contributing value to any investment or retirement portfolio is based upon it. The coins also enjoy a small premium over world gold prices because of the costs associated with producing and circulating them, which the Constantinople Mint incurred over a century ago. The actual market value of these issues depends on the daily gyrations of gold prices, which trade six days per week in London, Hong Kong, New York, Chicago, and other important commodity complex financial centers around the globe. You can know the current live prices of gold simply by surfing on over to our homepage.
Can IRA Accounts Contain Turkey Gold 100 Kurush Coins?
Turkey Gold 100 Kurush Coins are truly exotic and historical relics of a bygone era of grandeur. This should give you pause for thought as to whether the stuffy Internal Revenue Service will permit you to collect them within your precious metals IRA. They have sole decision making powers in this regard. The IRS decides whether or not to include any prospective bullion coin candidate based primarily on two factors including a minimum gold purity and a maximum collectability value.
In order to complete the opening of this type of self directed IRA account, you will have to place an initial order for $5,000 or more of IRS-qualified gold and/or silver bullion coins and/or bars. After you have done this, you can later add additional purchases of only $1,000 or higher minimum increments. Should you already possess a traditional form of IRA vehicle, you can transfer it over to a precious metals IRA using an IRA rollover. The coins must be literally purchased by your new account administrator and stored within a third party vaulting depository that specializes in IRA precious metals holdings. These companies maintain and guard your gold coin treasures. You must not handle the gold in any stage of the purchase or storage process or it will become invalid for inclusion in your IRA account.
The IRS insists on their minimum gold purity level of .995 in order for a coin to be passed for approval in these retirement vehicles. Such Turkish Gold 100 Kurush Coins only feature a gold purity amount of .9167, which invalidates them from IRA accounts per the IRS. Their collectability factor is not too high for them to be allowed, if only they featured a high enough gold purity. Although they may not be a part of your precious metals IRA, they make excellent diversification for other forms of retirement and investment portfolios you may have. You can buy these beautiful, historic pieces from world gold bullion and coin shops around the world, and especially in the Middle East and Europe.
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