Value of Israeli bullion coins doubles

The Tower of David and Western Wall coins are both selling at record highs among other bullion coins of the world.

March 26, 2012 23:41
Israeli gold bullion coins

Israel gold bullion coins money wealth economy 370. (photo credit: Eli Gross/Keren Or)

The two bullion coins issued by the Bank of Israel have doubled their value in the international coin-collector market, the Israel Coins and Medals Corporation said Monday.

Tower of David and Western Wall – one-ounce, fine-gold .9999 coins issued in 2010 and 2011 – are both selling at record highs among other bullion coins of the world, at about twice the price of the gold. The central bank will unveil a third coin on Jerusalem Day on May 20.

A bullion coin is a coin struck from gold, silver or platinum and is generally used for investment rather than for everyday commerce.

Its weight is engraved on it, and its price is based on its precious-metal content plus a premium.

Israel’s bullion coins are legal tender with a face value of NIS 20. They are priced at 20 percent above the price of gold and fluctuate daily, in accordance with the London Metal Exchange’s fixing of the gold. The price of gold has fluctuated recently at around $1,660 an ounce.

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