World Coins

New Zealand issues silver ‘premium’ bullion coins

Two Chatham Island crested penguins against a stormy backdrop adorn the reverse of new silver bullion coins from New Zealand in two denominations: a 1-ounce dollar and a 2-ounce $5 coin.

Images courtesy of New Zealand Post and American Precious Metals Exchange.

New silver bullion coins from New Zealand are in the marketplace, but American collectors are going to have to be patient to find them in the U.S. market.

So, why then is Coin World reporting about this coin?

The 2020 Chatham Island Crested Penguin program also includes collector versions available from an American distributor. In addition, the program is representative of how the modern world coin market functions.

The 1-ounce .999 fine silver dollars are issued by MetalMarket.eu, based in Poland. Many companies create such programs so they can offer customers an exclusive item.

In this case, “issued” means “coordinated the production and distribution” of the coins. The actual legal issuer is New Zealand, through New Zealand Post, which has the license to issue collector coins for Kiwis (the Reserve Bank of New Zealand coordinates production and distribution of circulating coinage, much, if not all, of which is struck at the Royal Canadian Mint).

An unspecified number of the “premium bullion” coin’s 25,000-piece mintage is available through NZ Post, but at a price of $79.90 New Zealand dollars (about $51 U.S.). MetalMarket.eu sells the coin starting at $29.15 U.S., with quantity discounts.

A colorful 2-ounce version, denominated $5, has a mintage limit of 750 pieces and is available through American Precious Metals Exchange at a price starting at $164.99.

In addition, a colorized version of the 1-ounce silver dollar comes in a special 2020 Proof set containing all five circulating denominations, from 10-cent to $2.

APMEX offers that set (which is limited to 750 sets) for $124.99.

This silver coins feature a design by New Zealand artist Dave Burke.

Two Chatham Island crested penguins (endemic to the island) are shown on the reverse of each coin, with a stormy backdrop. The birds are circled by koru, a spiral symbol important in Maori art.

The Ian Rank-Broadley effigy of Queen Elizabeth II is found on the coin obverses.

To order the coins, visit MetalMarket.eu or apmex.com. GovMint.com and ModernCoinMart.com will also offer the coins, but pricing is unavailable.

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