ACCORDING to a press release issued by the Government of Gibraltar, the Gibraltar National Mint, which is the name of a government sponsored marketing operation which uses external mints to produce it’s occasional commemorative coinage, has commissioned a special limited edition set of Fine Gold .999 24ct coins, which have been created in celebration of Her Majesty the Queen’s 90th Birthday.
The first set (numbered 00) was presented by Chief Minister Fabian Picardo to HRH the Princess Royal as a gift to Her Majesty on behalf of the people of Gibraltar.
In tribute to Her Majesty on her 90th Birthday, renowned sculptor and founder of London based Tower Mint, Raphael Maklouf has created a new 2016 effigy of Her Majesty and this effigy is seen throughout the set.
The special set, numbered 01-90, comprises seven 24ct gold coins held within a beautifully designed bespoke wooden case and acrylic capsule, both engraved with the Gibraltar Crest depicting the Rock of Gibraltar coin design within its centre. Each coin has an accompanying certificate of authenticity.
The seven coins which have a combined weight of 5.322 troy ounces are being offered for sale in Gibraltar at a special price of £10,000. Anyone interested in ordering a set can do so through the Gibraltar National Mint at the Gibraltar Savings Bank building, 206 – 210 Main St, where a £500 deposit will be required for pre-order.
Anyone thinking of purchasing these coins as an investment should consider that the gold contained in the coins has a current value of £4,790.00 and, even when taking into account production costs which would consist of advance purchase of gold blanks, dies, wooden box and striking, the profit margin does appear quite significant.
Unless there is a significant secondary market for these coins which may be something of a long term gamble, any purchaser would have to see the spot price of gold double to around £1,800 an ounce to even recover the cost of buying the coins.