Author Topic: National bullion coins and their names  (Read 7138 times)

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Offline chrisild

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Re: National bullion coins and their names
« Reply #15 on: January 23, 2012, 05:02:06 PM »
Another one: "St. George the Victorious" from Russia (image: cbr.ru). Comes as a 1 oz silver piece, and as a gold coin in various versions.

Christian

paisepagal

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Re: National bullion coins and their names
« Reply #16 on: December 11, 2012, 09:47:20 AM »
A non-collector friend of mine just forwarded this youtube video to me...interesting watch for those of us who haven't seen bullion coins upclose and all in one place!

http://www.youtube.com/watch?v=PFvERbcoXO0&feature=fvwrel

Offline eurocoin

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Re: National bullion coins and their names
« Reply #17 on: June 24, 2017, 01:55:53 PM »
The greedy little Isle of Man has invented two bullion types in recent decades: the angel, and the noble.

After the Isle of Man, soon also the Falkland Islands will introduce Noble bullion coins. A cupro-nickel Noble will be equal to 25p, A silver Noble will equal 2 pounds and the gold 1 and 5 Noble coins both equal 10 pounds. The coins will depict HMS Desire with the wording ‘HMS DESIRE’ in the style of coins of the era. The value is shown at the base of the design.

Offline Figleaf

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Re: National bullion coins and their names
« Reply #18 on: June 25, 2017, 12:29:03 AM »
Bullion gold coins date from the post-Napoleonic era, but the first generation was hard to recognise as such, because they resemble earlier circulation coins. They include US 10 dollar pieces, UK sovereigns, French 50 franc pieces, Dutch 10 gulden pieces, divisions and multiples. These coins no longer circulated after the first world war, but were in demand as small portions of gold that could be used for physical gold speculation. The coins went by gold content and gold price. Their denomination was irrelevant.

In 1967, South Africa broke with that tradition by giving its physical gold speculation instrument the name of a non-existent currency: krugerrand. It became a great succes when the US unilaterally pulled out of the Bretton Woods Accord in 1971. This led to a legal reaction in the EC (now EU), whereby all non-circulating gold pieces were deprived of their status of money and subjected to Value Added Tax as a commodity. In a similar legal decision, a British judge ruled that a contractor could not pay his employees in gold sovereigns and pay taxes and social security calculated over the denomination of the coins paid, because the pieces were goods, not money.

In another reaction, several other countries came up with their own version of coin-like gold pieces denominated in a non-existant currency. The best known of these were the Canadian 10 dollars, known and advertised at the time as "maple leaf" and the Russian 10 rubles, given the denomination of chervonetz.

The latter is still somewhat "old style", because there is a gold coin with the same design denominated 1 ЧЕРВОНЕЦ issued by the Russian Soviet Federative Socialist Republic (RSFSR) in 1923. However, when this design was used again, the RSFSR had been subsumed as part of the USSR. The 1923 ruble had been succeeded by the 1947 and the 1961 ruble and private Russian citizens were not allowed to hold or speculate in gold. It should therefore be clear that the 1975 to 1982 issues were not coins, like the krugerrand.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline chrisild

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Re: National bullion coins and their names
« Reply #19 on: June 25, 2017, 03:21:54 PM »
This led to a legal reaction in the EC (now EU), whereby all non-circulating gold pieces were deprived of their status of money and subjected to Value Added Tax as a commodity.

Not sure how it was back then, but these days, gold coins are not subject to VAT in the European Union if they meet certain requirements. Based on Council Directive 2006/112/EC, a list of VAT exempt gold coins is published every year. The "investment gold" list for 2017 can be found in the OJ here.

Christian

Offline chrisild

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Re: National bullion coins and their names
« Reply #20 on: December 15, 2017, 12:57:06 AM »
And since 2017 is coming to its end ;) here is the list for 2018. First, a handy overview:

European Union – Margin scheme for investment gold
https://ec.europa.eu/taxation_customs/business/vat/eu-vat-rules-topic/special-schemes_en
- search for "minted" on that page in order to jump to the relevant section -

And then the "list of gold coins meeting the criteria":
http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52017XC1111(01)&qid=1513293923676&from=EN
- note that coins not listed there may still meet the VAT exemption criteria; the list just makes things a little easier -

Christian