BULLION COINS: UKRAINIAN ARCHANGEL MICHAEL
1 hryvnia (bullion coin "Archangel Michael"), 2022: Ukraine
Non-circulating bullion coin of Ukraine.
With the name "Archangel Michael" (in Ukrainian "Архістратиг Михаїл" or "Архангел Михаїл"), the National Bank of Ukraine issues several types of investment coins — silver 1 hryvnia and gold 2, 5, 10 and 20 hryvnias (the design of the coins is identical, the only difference is in the metal and its weight; currently there are two types of design: the 2011-2019 variety and from 2020).
1 ₴: 1 hryvnia (₴ — symbol for the hryvnia as the national currency of Ukraine).
УКРАЇНА - Національний банк України - 2022: UKRAINE - National Bank of Ukraine - 2022.
Ag999.9 - 31.1: the coin contains 1 troy ounce (31.1 grams) of silver of the highest 999.9 fineness (99.99% pure silver).
Coat of arms of Ukraine, a laurel wreath is depicted in a circle against a background of a pattern of stylized hryvnias (the monetary and weight unit of Kyivan Rus'), the denomination is below and the logo of the National Bank of Ukraine Banknote Printing and Minting Works; in the center, in an octagonal cartouche on the shield, the medieval hryvnia is also depicted.
…ЗА НАС І ДУШІ ПРАВЕДНИХ, І СИЛА АРХІСТРАТИГА МИХАЇЛА: FOR US THE SOULS OF THE RIGHTEOUS AND THE POWER OF ARCHANGEL MICHAEL (lines from Taras Shevchenko's poem "Haidamaky").
Archangel Michael with a sword. — Since the time of Prince Vsevolod of Kyiv (13th century), Archangel Michael has been the patron saint of Kyiv, the capital of modern Ukraine. The symbols of the capital and the sign of heavenly patronage are the statue of Archangel Michael on Maidan Nezalezhnosti (Independence Square) and the St. Michael's Golden-Domed Cathedral and monastery.
Mintage: 10.000.NBU Banknote Printing and Minting Works (Kyiv, Ukraine).
- Silver (0.999): 38.61 mm - 31.1 g
- Reference price: 70$
BULLION COINS — WHERE & WHEN (coins catalog: by names & emitents)
A wide range of countries have been regularly issuing their bullion coins since the 1800s, the most famous of which are:
- South Africa — Krugerrand
- United States of America — American Eagle
- United Kingdom — Britannia
- Australia — Australian Gold Nugget
- Canada — Maple Leaf
- China — Chinese Panda
- Mexico — Libertad
- Austria — Vienna Philharmonic
- Ukraine — Archangel Michael
- Poland — White-tailed Eagle
- Armenia — Noah's Ark
- ...
BULLION COINS as coin name.
Bullion coins (also Investment coins or less often Specie) — coins made of precious metal, used as a means of saving and investing. Silver, gold, platinum and palladium bullion coins are minted weighing 1 ounce of the corresponding metal as the base unit and also there are its fractions (1/2, 1/4, 1/10 parts of ounce).
Although this is a debatable issue, most often bullion is considered to be coins that were minted after 1800. They have a precious metal purity of at least 900 parts per thousand and are or were legal tender in their country of origin (but they cannot be used in cash payments due to impracticality).
An important advantage of bullion coins is that the every local National Bank as issuer undertakes to buy them in any situation. But in fact, there are exceptions to this rule, such as, for example, the terrorist invasion of russia into Ukraine in 2022 — the National Bank of Ukraine suspended the purchase of its bullion coins (1, 2, 5, 10 and 20 hryvnia silver and gold "Archangel Michael" coins); but these tragic force majeure circumstances was temporary.
The price of bullion coins can fluctuate significantly depending on changes in the value of the metal, but remain relatively high and higher than the price of the metal from which it is made due to the cost of its production (seigniorage) and a certain additional numismatic value (mostly for coins in proof quality).
The face value of bullion coins is significantly lower than the value of the precious metal contained in the coins, which makes their use as a means of payment impractical and due to which they become an object of investment.
Proper name of this or that type of such coins is a separate topic worthy of attention, because unlike ordinary circulating coins, each such bullion coin, in addition to its own denomination, also has its own unique name, which indicates the main theme in the design. Each of these names combines a number of outwardly similar coins with different denominations and metals. For example: "Britannia" of United Kingdom (silver 2 pounds, gold and platinum 100 pounds and their fractions), "American Gold Eagle" of USA (gold 50 dollars), "Chinese Gold Panda" of China (gold 500 yuan), "Noah's Ark" of Armenia (silver 500 dram)...
In fact, the denomination of such coins is not always expressed in units of the official currency. Thus, the Mexican bullion coin "Libertad" is widely known in numismatic and financial circles, the denomination of which is not expressed in traditional Mexican pesos. Instead, the denomination format is ONZA ("ounce" from Spanish).
But the basic denomination of the Austrian bullion coin "Vienna Philharmonic" has undergone an evolutionary transformation: from the moment of its appearance in 1989 until 2002 it was 2000 schilling, after the introduction of the euro — 100 euro.
As for me, the South African "Krugerrand" is the most popular, well-known, even iconic among the bullion coins in the world. This investment instrument appeared in 1967 and quickly gained extra popularity: since then, the state has sold more than 1.5 million kilograms of gold in this way! This coin is issued in the format of both 1 krugerrand (or 1 ounce of pure gold), and its fractions — 1/2, 1/4 and 1/10. Interestingly, the denomination of this coin is not indicated in the format of the official currency of South Africa (which is the rand), but as krugerrand — the name is a compound of Paul Kruger's name, the former President of the South African Republic during 1883-1902, and rand, the South African unit of currency.
On modern bullion coins, as a rule, the denomination and/or their total weight or the weight of chemically pure precious metal contained in these coins (usually in ounces) is indicated.
It is worth noting: commemorative, collectible and anniversary coins, which have been massively issued by various countries recently, although they are often made of high-purity precious metals, still do not belong to the class of bullion coins.
According to Wikipedia, the name of this type of coin contains the term Bullion — non-ferrous metal that has been refined to a high standard of elemental purity. The term is ordinarily applied to bulk metal used in the production of coins and especially to precious metals. It comes from the Anglo-Norman term for a melting-house where metal was refined, and earlier from French "bouillon" ("boiling").
