The World Platinum Investment Council has announced that the island of St Helena and East India Company have released the second in a six-series platinum bullion coin design in the St Helena Queen’s Virtues Series.
This follows shortly after sales of its 1 oz platinum bullion American Eagle coin reached 79 000 oz in the year-to-date – the highest level of platinum bullion coin sales in 22 years – compared with last year’s sales of 75 000 oz for the full year.
The Queen’s Virtues series is available in 1 oz and 0.1 oz sizes, struck in 99.95% pure platinum and legal tender in the place of issue. The coins have a face value of £100 and £10, respectively.
Although the Queen’s Virtues coins are classed as legal tender, they are not intended for circulation. Their value is linked to the intrinsic value of the precious metal contained, instead of the face value of the denomination.
The platinum coins are part of a six-design coin series in which the reverse features images inspired by the Victoria Memorial statue outside Buckingham Palace, in the UK.
The memorial depicts the virtues of victory (the inspiration for 2021’s design), truth (the inspiration for this year’s design), justice, charity, courage and constancy as six allegorical figures.
The next platinum bullion coin design in the series is scheduled for release in 2023.
The East India Company and the St Helena Treasury issue precious metal coinage for the investor and the collector based on their shared heritage.