The Somali Silver Elephant is a high-quality silver coin struck by the The Bavarian State Mint. These coins have been minted annually since 2004 and each year introduces a new reverse design that features at least one elephant. The high silver content and rotating designs of this coin make it highly valuable among investors and collectors.
Made of .9999 fine silver and manufactured at a sovereign mint, Somali Elephants qualify for most precious metals IRA accounts. This gives you another investment option when planning for your financial future. A well-diversified investment portfolio generally contains 10 to 15 percent precious metals, and the Somali Elephant makes a beautiful addition to your stack.
Somali Silver Elephants began as part of the African Wildlife coin series in 1999 under the authorization of Zambia. The coin was designed to celebrate the largest land animal on earth, which also happens to be an endangered species. In 2004, the series’ country of issue transitioned from Zambia to the Somali Republic.
The obverse features the Somalian Coat of Arms. This consists of two leopards on either side of a shield with a star on it. Underneath the shield, a ribbon is draped across two crossed palm fronds and lances. Before the country of issue was changed in 2004, the coin featured the seal of Zambia on the obverse.
The reverse design changes with each release, but every design features the African Elephant. At least one elephant can be found, often within its natural habitat in the African grasslands.
Since 2004, Somali Silver Elephants have been manufactured by the Bavarian State Mint in Munich, Germany, locally referred to as Das Bayerisches Hauptmünzamt Mint. The mint has been operating since 1158 under the authorization of Heinrich dem Lowen, making it the oldest company in Munich.
The Bavarian State Mint is known for high production standards and minting beautiful collector coins, medals, and seals. The popularity of the Silver Elephant has risen significantly over the years of production. The initial mintage in 2004 included 5,000 coins and has since grown to a mintage of over 130,000 coins. These coins not only make a great investment, but they also serve as legal tender in the Somali Republic.
Silver coins have an appearance similar to that of circulation coins, and they also carry a legal tender value since they too are produced by a sovereign mint. However, the silver content within the coin is often much more valuable than the face value. That is why many investors buy silver coins as a way to diversify their investment portfolio. In addition to the value of silver, many of these coins feature beautiful designs that add to their collectability. Certain limited edition coins and coins with design anomalies may carry even more value due to their rarity.
Silver has been a valuable commodity for centuries, and Somali Silver Elephants are no different. These coins are favored by investors worldwide because silver coins help round out investment portfolios and bullion collections. Though the value of silver coins fluctuates according to spot price, the metal has proven to remain a valuable asset.
The purity of silver bullion adds to the value of these coins. Whereas silver jewelry and other decorative items may be alloyed with other metals of a lesser quality, silver coins remain a pure form of the metal. Even in its purest forms, silver remains an affordable metal. This is why it is preferred by many regular investors, both new and seasoned.
The term spot price refers to the current value of a metal. These values remain in flux while international markets are open, reacting to various economic and political activities. Here at Provident, we encourage you to use our silver spot price chart to familiarize yourself with spot prices on a regular basis. This knowledge helps you determine the best times to buy and sell your precious metals.
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