Precious Metals

Pobjoy Mint launches new silver bullion coin

A new 1-ounce silver bullion coin celebrates the mythological Greek figures Pegasus and Athena. The British Virgin Islands’ Reverse Proof silver dollar has a mintage limit of 50,000 pieces.

There’s a new silver bullion coin, and it has ancient roots.

The Pobjoy Mint on Oct. 3 is launching a Reverse Proof 1-ounce .999 fine silver dollar on behalf of the British Virgin Islands government, featuring the famous Greek mythological horse, Pegasus.

The story of Pegasus begins when Perseus was sent to kill one of the three Gorgons — Medusa who had writhing snakes instead of hair. It was said that anyone unfortunate enough to gaze on her face would turn to stone. 

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The god Hermes and the goddess Athena came to aid Perseus with special gifts, including a shield that Perseus used as a mirror so as not to look directly at Medusa. When Perseus beheaded Medusa, as the story goes, Pegasus was born from the blood of the Gorgon.

Pobjoy Mint Isle of Man silver coin   Long partnership ending: private Pobjoy Mint and Isle of Man to part ways in 2017: The Isle of Man, a self-governing British Crown dependency in the Irish Sea, is the Pobjoy Mint’s first and longest-lasting nation partner. 

After Pegasus helped Perseus rescue Andromeda, he was carried to Mount Helicon where he was entrusted to the care of the Muses.

Many wanted to capture Pegasus but no one could work out how to tame the magnificent creature. 

After being advised to sleep in the temple of Athena, the hero Bellerophon saw the goddess before him holding a golden bridle. When he awoke he was alone but the bridle remained. He ran from the temple and found Pegasus drinking at a spring. Bellerophon put the charmed bridle on the winged horse’s head with little difficulty and, with the bridle in place, Pegasus became gentle and tame and Bellerophon became his master.

Pegasus and the goddess Athena appear on the reverse of the new silver bullion coin. Beneath the design appear inscriptions guaranteeing the weight and fineness of the metal. The Pobjoy Mint’s P “privy mark” also appears. 

Approved by Buckingham Palace, this coin carries an effigy of Queen Elizabeth II used exclusively by Pobjoy Mint, set against a frosted background.

The Reverse Proof silver dollar weighs 31.103 grams, measures 38.6 millimeters in diameter and has a mintage limit of 50,000 pieces. 

The bullion coins are presented in a heat-sealed clear pack.

The bullion coins are available to distributors at fixed prices above the precious metal, or “spot,” price. The premium varies depending on purchase quantity.

Collectors and investors can purchase the coins directly from the Pobjoy Mint beginning Oct. 3, or may contact a bullion distributor.

This article was updated on Sept. 28 to reflect that the coins can be directly purchased from Pobjoy Mint.

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