The Somalia Silver Elephant Coin is a bullion coin produced by the Bavarian State Mint on behalf of the Federal Republic of Somalia. The coin features an image of an elephant on the reverse side and is made of .999 pure silver. It has become a popular choice among silver investors and coin collectors due to its unique design and high silver content.
The Somalia Silver Elephant Coin was first introduced in 2004 and has been released annually since then with a new design each year. The coin was originally produced by the Zambia Mint and later by the Bavarian State Mint in Germany. The Somalia Silver Elephant Coin is a legal tender in Somalia with a face value of 100 shillings. The coin has gained popularity in recent years due to its impressive design and investment potential.
Design of Somalia Silver Elephant Coin:
The obverse side of the Somalia Silver Elephant Coin features the coat of arms of Somalia, which includes a shield with a white star, a golden sun, and two leopards. The shield is supported by two leopards and is surrounded by a wreath made of branches. The inscriptions on the coin include the face value of 100 shillings, the year of issue, and the weight and purity of the silver.
The reverse side of the Somalia Silver Elephant Coin features a different image of an African elephant each year. The designs often depict the elephant in its natural habitat or engaged in activities such as grazing or playing. The inscriptions on the reverse side include the words “African Wildlife,” the weight and purity of the silver, and the country of issue, Somalia. The reverse design of the Somalia Silver Elephant Coin changes annually, making each coin a unique and collectible item.
Specifications of Somalia Silver Elephant Coin:
The Somalia Silver Elephant Coin is produced in various denominations. Including 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. The 1 oz coin is made of .999 pure silver and weighs 31.1 grams. The 1/2 oz coin is made of .999 pure silver and weighs 15.55 grams. The 1/4 oz coin is made of .999 pure silver and weighs 7.78 grams. The 1/10 oz coin is made of .999 pure silver and weighs 3.11 grams.
The diameter of the 1 oz coin is 39 mm and its thickness is 3 mm. These specifications may vary slightly depending on the year of issue and the mint that produced the coin. Somalia Silver Elephant Coins come available in a range of sizes, such as 1 kilogram, ten ounces, 1 ounce, and fractional ounce sizes (which began in the year 2017).
The specifications of the most heavily produced and most popular one-ounce size are:
1 Troy oz. Silver
99.99 % Silver
Rarity and Value of Somalia Silver Elephant Coin:
The mintage figures for the Somalia Silver Elephant Coin vary depending on the year and denomination of the coin. Generally, the 1 oz coins have the highest mintage figures, while the smaller denominations have lower mintages. However, some years and denominations may have limited edition or proof versions with even lower mintages.
Grading and certification services such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) offer authentication and grading services for Somalia Silver Elephant Coins. Grading can significantly affect the value of a coin, with higher grades indicating a better condition and therefore a higher value.
Also, the market value of Somalia Silver Elephant Coins varies depending on factors such as the year of issue, denomination, mintage figures, and condition. The coins generally trade at a premium above their silver content. That’s due to their collectability and unique designs. Furthermore, the supply and demand may affect their prices as well.
Collecting Somalia Silver Elephant Coin:
There are several reasons why collectors may choose to collect Somalia Silver Elephant Coins. The coins feature unique and beautiful designs that change annually, making them interesting and collectible. Also, the coins also have a relatively low mintage in comparison to other bullion coins. This makes them more exclusive and potentially valuable. Additionally, the coins contain .999 pure silver, making them a tangible and valuable asset for investors.
Here are some tips for collecting Somalia Silver Elephant Coins:
Research and choose which years and denominations to collect based on personal preferences, mintage figures, and historical significance.
Consider purchasing coins in the original packaging or certified by a grading service for added value and authenticity.
Be aware of potential counterfeit coins and purchase from reputable dealers or sources.
Consider joining a coin-collecting club or online community to connect with other collectors and share knowledge and tips.
Keep track of your collection and regularly update its value.
Storing and displaying Somalia Silver Elephant Coins is important for preserving their value and beauty. Here are more some tips:
Store the coins in a cool, dry place to prevent tarnishing and damage.
Use coin capsules or holders to protect the coins from scratches and fingerprints.
Avoid handling the coins too often or with bare hands, as oils and moisture can damage them.
Consider displaying the coins in a coin album, frame, or display case to showcase their designs and historical significance.
Clearly, the significance of Somalia Silver Elephant Coins lies in their unique designs, low mintage, and potential value as a collectible and tangible asset.
The coins showcase the beauty and diversity of African wildlife and culture while also providing a valuable investment opportunity for collectors and investors alike. As such, they have become a popular choice among coin collectors and bullion investors around the world.
With proper storage and maintenance, Somalia Silver Elephant Coins can provide investors with a tangible asset that can be easily bought and sold in the global market.
However, these precious metals coins are not suitable for retirement investors as they are not IRA-eligible.