Silver investors don’t necessarily have to choose between a silver coin and a silver bar when investing in the popular metal anymore. The increasing number of rectangular silver coins combines the beautiful designs common on silver bullion coins, and the legal tender status of those pieces, with the shape and style of silver bars. The continuing partnership between the modern East India Company and the Issuing Authority of St. Helena now brings investors a chance at the best of both worlds with new rectangular silver coins. Learn all about the latest release of St. Helena silver courtesy of the East India Company.
Queen Elizabeth II Obverse
On the obverse of the 2021 St. Helena Rectangular East India Company 10 oz and 250 Gram Silver Coins, you will find an effigy of Queen Elizabeth II. The island of St. Helena is a British Overseas Territory with Ascension and Tristan da Cunha with Elizabeth II as the monarch of the island. Her Majesty is featured in right-profile relief inside of an oval portrait frame with the Imperial State Crown at the top. In the portrait, the Queen wears the George IV State Diadem crown. Designed in 1985 by Raphael Maklouf, the effigy was originally criticized for portraying the Queen in an idyllic and unrealistic image that did not match her age. Maklouf responded by stating that his design sought to capture the timeless, regal nature of the monarch. Inscriptions on this field include “St. Helena,” “10 Pound,” “2021” “10 oz,” “Fine Silver 999,” and “HM Queen Elizabeth II.” The 250 Gram coin has the same inscriptions, with “10 oz” replaced by “250 g.”
Sailing Vessel Reverse
The reverse face of 2021 St. Helena Rectangular East India Company Silver Coins comes with a depiction of a sailing vessel. The two-masted ship shown here has its full rigging out as it sails along calm waters. The logo of the modern East India Company is at the top of the coin, with inscriptions below of “The East India Company, London.” The East India Company used sailing vessels like these to transport heavy cloth and coinage from the British Isles to the East Indies, bringing back cotton, silver, dyes, sugar, salt, spices, tea, and opium from the East Indies to the British Isles.
In the release of the 2021 St. Helena Rectangular East India Company Silver Coins, the East India Company and the Issuing Authority of St. Helena offer .999 pure silver coins. The coins are available in 10 Troy oz and 250 Gram weights, with the latter option containing 8.037 Troy oz of silver. The 10 oz coins come in sealed plastic, boxes of 10 coins, or sealed Master Boxes of 50 coins. The 250 gram coins are available in plastic flips, boxes of 12 coins, or sealed Master Boxes of 48 coins. Both versions have an assigned face value of 10 Pounds.
Background on the East India Company
Queen Elizabeth I gave the East India Company its Royal Charter in 1600 following the company’s formation. The original East India Company was founded with the intent to foster greater trade between the Indian Ocean and the British Isles. The company originally formed trade routes, partnerships, and even colonies on the Indian Subcontinent and in Southeast Asia. It would later gain access to Hong Kong and other Chinese ports following the First Opium War. It also established and maintained both trading posts and colonies in the Persian Gulf. The company eventually took full control of India in 1757, not only ruling over the colonies of the region, but also issuing its own coinage for India that would form the foundation of Indian currency until 1947 when India gained independence.
The East India Company issued its first coinage in 1601 as its first vessels set out from England with cargo. Those initial vessels were carrying heavy cloths from the textile manufacturers in England, as well as 6,000 Pound sterling in silver coins with the portrait of Queen Elizabeth I. The company would go on to issue coins for its various colonies and regions in the East Indies, including British Guineas, Bombay Rupees, and the first-ever local coins for St. Helena.
Connection Between the East India Company and St. Helena
In 1657, the East India Company was awarded control of the island of St. Helena by the British government of Oliver Cromwell. The move allowed the East India Company to fortify the island and increase its value as a refueling port for both East India Company vessels and ships of the British Royal Navy traveling the Atlantic Ocean, as well as those transiting between the British Isles and the East Indies. In 1821, the St. Helena Half Penny was issued as the first-ever local coins for the island. Struck in Birmingham, the Half Pennies were shipped to St. Helena for use among the local population.
Although the East India Company was dissolved in 1873, it was reborn in 2010 as a luxury brand. In 2012, the East India Company revived its coining partnership with St. Helena and began issuing silver bullion coins with the Issuing Authority of St. Helena.
Buy Rectangular Silver from Provident Metals
Please feel free to reach out to Provident Metals with any questions about these brilliant new silver rectangular coins. Our customer service team can assist you at 800-313-3315, chat with you live online, or respond in writing via email. We also encourage you to follow us on Facebook and keep up with our weekly blog posts for in-depth information on new products.