Friday, June 21, 2024
HomesingaporeMAS unveils coins for Year of the Dragon; orders open on Thursday

MAS unveils coins for Year of the Dragon; orders open on Thursday

SINGAPORE – Coin collectors and those keen to mark the upcoming Year of the Dragon can start placing their orders for the Monetary Authority of Singapore’s (MAS) almanac coins on Thursday.

The coins, which were unveiled on Thursday, will be available for public purchase on Jan 1.

Pre-orders for the coins, which are legal tender at face value, can be placed from Thursday to Dec 10. Visit The Singapore Mint website at www.singaporemint.com or call 6566-2626 to place an order.

If the coins are oversubscribed, they will be allocated by balloting.

The coins feature a dragon against the backdrop of Gardens by the Bay. The other sides bear the Singapore Coat of Arms with the year 2024 marked on it, said MAS.

There are 10 variations, comprising different face values, metallic compositions, shapes and minting relief effects.

All the coins, except the nickel-plated zinc proof-like coin, are accompanied by a serialised certificate of authenticity.

The rarest is the five-troy-ounce (155g) gold proof coin that is 60mm in diameter, which is made with 999.9 gold with a face value of $200, as there are only 100 available.

Special premium sets with different coin combinations will also be on sale.

Prices of sets range from $272 for a silver two-coin set to $22,245 for a gold and silver five-troy-ounce two-coin set.

The 2024 Year of the Dragon coins are the eighth issue in the Singapore Fourth Chinese Almanac Coin Series, which are being issued over 12 years from 2017 to 2028.

Mr Jimmy Tan, 42, has purchased coins from the past seven editions.

He is the owner of coin dealership Rich History Collection and will be placing an order for the 2024 series to sell and trade the coins.

He said: “Many people will buy the coins as gifts for their spouse or relatives who are born in a Dragon Year.

“The design is nice, but maybe for the following series, there can be high relief coins that will give a 3D feeling and outlook.”

According to the American Precious Metals Exchange, high relief coins are more 3D than standard coins, whose images extend above the outer edge.

“These coins elevate the level of detail that can be seen and felt in the image. Collectors often note that high relief coins and ultra-high relief coins feel more like a medallion, pendant or even a tiny sculpture than a standard coin,” it added.

These coins will carry a premium because they “require special presses and repeated strikes”.

Mr Alex Wong, 41, who collects coins and banknotes, said: “The designs are definitely special, but some are overpriced. A $22,245 set might not be worth buying, and any drop would make a scratch which may reduce their worth.

“I might want to look at the physical coins before I decide whether to buy it.”

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