Singapore Gold 100 Singold Coins are commemorative gold coins produced by the Singapore Mint.
These coins are popular as collector’s items. Also, they garner interest from coin collectors and investors alike. The Singapore Gold 100 Singold Coins are minted in various denominations. Including the 100 Singapore Dollar coin.
The history of the Singapore currency can be traced back to the 19th century when the British East India Company established a trading post in Singapore.
The local currency at that time was the Spanish dollar, which was quite prevalent in the region. In 1845, the British introduced the Straits Settlements currency. It found uses in Singapore, Malaysia, and other British colonies in Southeast Asia.
In 1953, the Board of Commissioners of Currency, Singapore emerged and became the sole issuer of currency in Singapore. In 1967, Singapore became an independent nation and the Board of Commissioners of Currency became the Monetary Authority of Singapore. Afterwards, the Singapore dollar entered the market in 1968 as the official currency of the country.
Since then, the Singapore dollar has become one of the most stable and widely traded currencies in the world.
Characteristics of Singapore Gold 100 Singold Coins:
Design Features and Specifications:
The obverse is the technical term for the front side of all coins. The obverses more or less have the same theme year in and year out. Also, this is a four-Chinese character design that stands for “Amiable Countenance.” The four characters translate into English as “River,” “Power,” “Thrill,” and “Pokey” starting at the top left and moving clockwise. There is also in English the “Republic of Singapore” and the date of mintage inscribed on the obverse.
Points to remember:
- The 100 Singold coin features a design of the Merlion. A mythical creature that is half lion and half fish, which is the national symbol of Singapore.
- The obverse of the coin features the Singapore Coat of Arms.
- The 100 Singold coin has a diameter of 32.2 mm and a thickness of 2.6 mm.
The back of coins is called the “reverse.” Singapore Gold 100 Singold Coins have an annually changing reverse that features the Lunar Year animal for the mintage year. The 1986 popular design was a prowling tiger. Each reverse similarly details the high gold purity of .9999 fineness.
Purity and Weight of Singold Coins:
- The 100 Singold coins are made of 999.9 fine gold. Which means that it is 99.99% pure gold.
- The weight of the 100 Singold coins is 31.1035 grams or 1 troy ounce of gold.
Minting Process and Production:
- The Singapore Gold 100 Singold Coins are minted by the Singapore Mint. It is a subsidiary of the Monetary Authority of Singapore.
- The minting process involves several steps, including the preparation of the die, the striking of the coin, and the inspection and packaging of the finished product.
- These coins are produced in limited quantities, with only a certain number of coins being minted each year. This adds to their rarity and collectability.
Collecting and Purchasing Singapore Gold 100 Singold Coins:
Tips for Collecting Singold Coins:
Do your research before purchasing Singapore Gold 100 Singold Coins. Learn about the various types of Singold Coins that are available. Also, familiarize yourself with the current market prices.
Look for Singold Coins that are in good condition, with minimal wear and tear. Also, consider purchasing Singapore Gold 100 Singold Coins that are part of a series or collection. As these can be highly collectible and valuable, keep your Singold Coins in a secure location. Such as a safe or safety deposit box, to protect them from damage or theft.
Where to Purchase Singold Coins?
The Singapore Mint is the official distributor of these coins, and their website offers a wide selection of Singapore Gold 100 Singold Coins for purchase. Moreover, you can purchase them from coin dealers and collectors, either online or in person.
Be sure to verify the credentials and reputation of the collectors you buy from. In fact, it would be better if you only go to reputed bullion dealers. Some prominent names include Kitco and APMEX.
Did you know, you can invest in gold with your IRA? You can learn more about gold IRA investments here.
Authenticity and Verification of Singold Coins:
Singapore Gold 100 Singold Coins should come with a certificate of authenticity, which verifies that the coin is genuine and meets the required standards of purity and weight. You can verify the authenticity of them by checking the certificate of authenticity and examining the coin for signs of wear and tear or damage. However, if you are unsure about the authenticity of a Singold coin, you can take it to a reputable coin dealer or appraiser for verification.
Significance and Value of Singapore Gold 100 Singold Coins:
Rarity and Limited Edition Coins:
- Singapore Gold 100 Singold Coins are produced in limited quantities. Limited edition versions of this coin are particularly rare and valuable. That’s because they are only produced for a specific period of time or for a special occasion.
- For example, the 2015 100 Singold coin was a limited edition coin that commemorated Singapore’s 50th anniversary of independence. Only 5,000 of these coins were minted, making them highly sought after by collectors.
Investment Value and Market Demand:
- Singapore Gold 100 Singold Coins are considered to be a valuable investment, as they are made of pure gold and have a high level of collectibility.
- The value of these coins depends on several factors. These include the rarity of the coin, the condition of the coin, and the current market demand.
- The market demand for these coins can fluctuate over time.
Cultural and Historical Significance:
- Singapore Gold 100 Singold Coins are often produced to commemorate significant events in Singapore’s history and culture. For example, the 2015 100 Singold coin features the Merlion, which is a symbol of Singapore’s cultural heritage and identity.
- These also serve as a reminder of Singapore’s economic success and stability. As one of the most stable and prosperous countries in Southeast Asia, Singapore is considered to be a safe haven for investors and collectors who are looking for high-quality gold coins.
Summary of Key Points:
- Singapore Gold 100 Singold Coins are gold coins minted by the Singapore Mint and made of 999.9 fine gold. They have a weight of 31.1035 grams or 1 troy ounce.
- Singold coins feature a design of the Merlion on the reverse side, which is the national symbol of Singapore, and the Singapore Coat of Arms on the obverse side.
- These coins are produced in limited quantities. Making them rare and highly collectible. They are famous as collector’s items and as a safe haven investment.
- You can purchase these coins from the Singapore Mint, coin dealers, and collectors. It is important to verify the authenticity of the coins before purchasing them.
- Singapore Gold 100 Singold Coins are significant for their cultural and historical significance. Also, they carry considerable economic value.
- However, they are much more popular among retirement investors because they are not IRA-eligible. This has caused them to remain as a ‘collectible’ item. Beware.
Singapore Gold 100 Singold Coins: Are They Acceptable in IRA Accounts?
The stunning Singapore Gold 100 Singold Coins stand out among any collection of bullion coins. That’s why both investors and collectors are interested in owning them.
However, only the American Internal Revenue Service can provide a response to this crucial query. They alone decide whether to accept or reject coins in precious metals IRA vehicles. In order to compare all competing bullion coins, the lowest collectability premium and highest gold purity are employed.
Sadly, the IRS doesn’t permit investors to hold these coins in their IRAs. Hence, you would need to invest in other bullion coins such as American Eagles and Canadian Maple Leafs.
Luckily, there are many prominent gold IRA providers in the industry.
Conclusion
The future prospects for these coins will depend on various factors. These include global economic conditions, the demand for gold, and the political stability of Singapore. However, because of the reputation of Singapore as a stable and prosperous country, it is likely that these coins will remain popular.
As new versions of these coins enter the market to commemorate new events, they will certainly remain popular. Surely, if you’re a collector, Singold coins can be the perfect fit for your portfolio.
If you’re interested in gold and silver investments, you may consider opening a gold IRA. Gold IRAs allow investors to invest in precious metals while availing the tax advantages of a retirement account.
Furthermore, you can rollover funds from an existing 401(k) to a gold IRA to begin investing. It has become increasingly popular among investors, especially in the wake of the banking crisis.
I recommend checking out our list of the top gold IRA companies. It will help you understand what the market has to offer and where to go next.