Last Updated on March 17, 2024 by Ben
The Isle of Man Noble coin is a special investment coin that has been designed to be fit for both collectors and investors. It was the first platinum investment coin on the market, so its rare and unique features make them stand out from other types of investments like stocks or bonds.
Isle of Man Coins
The Isle of Man is a British mandate between Ireland and Great Britain. People know it for its coins, which are very high quality. The Isle of Man Noble coin is sometimes called the Platinum Noble or the Manx Noble. This is a special type of coin because it is made out of platinum, and people can buy them to make investments in it. They are unique because many coins that are made in this type of metal are not available for wide purchase.
Additional Read:
The Isle of Man is a mini island near Ireland. They have coins that come from different places. The reason they can do this is that they are creative and have many firsts, which is pretty neat for a small place. Not only are their designs beautiful, but many of their coins have a lot of history.
The 2019 Mannanan coin is shaped like a cross because the first king of the Isle of Man was named Mannanan. In 2015, the Isle of Man issued a coin that pays homage to the longest-reigning monarch in 1,200 years.
Development, Introduction, and History
Manx Nobles are coins made by a private mint company. They are platinum. This company makes many different coins, but this one is for the Isle of Man. The Isle of Man wanted these coins and commissioned the Pobjoy Mint to make them in November 1983. Platinum Nobles were made in different weights. They were made in 1/20 oz., 1/10 oz., 1/4 oz., 1/2 oz. and 1 oz. The most popular one was the 1-ounce coin because there were more of those made.
The Pobjoy Mint stopped making Isle of Man Platinum Nobles in 1989. No more have been made since then. They only made them for six years, which is a short time compared to other platinum coins.
The Royal Mint is not the maker of Platinum Nobles. The makers are trying to make it like the Royal Mint, and they do not care that they are not a part of the Royal Mint.
Isle of Man Noble Coin Physical Characteristics
Coin Design
The Platinum Noble coin is like all the other coins that are called “Empire.” It has a canvas of Queen Elizabeth II on one side. The word “obverse” means this one side. Unlike more latest investment coins, such as the Australian Gold Kangaroo or Canadian Silver Maple Leaf, the image of Elizabeth II is that of a young Queen.
The Platinum Noble coin’s reverse is especially interesting. A well-known Viking ship – the Thusly – appears, full sail, surrounded by birds. Viking raids on the English isles were usual during this time period from 800 AD to 1066 AD, and that history can be seen on these platinum coins.
Right underneath the water, you will see two numbers. One before the word ‘PLATINUM FINE’ and one after. The number before it tells you how much a coin of that size is worth.
Specifications
The five most common weight movements of Isle of Man Platinum Noble coins are listed below, though a total of 10 were issued. All Platinum Nobles are .9995 high platinum quality and are eligible for investing inside of an IRA.
Isle of Man Noble Coin Pricing
Manx Noble coins have a printed value on the back. One number means that it is worth one noble. The smaller numbers are for other sizes of coins. These coins can’t be used to buy anything in any country, so they just exist to be collected.
ONE NOBLE is meant to represent the value of an ounce of platinum, for example, the 1oz. Platinum Noble’s face value is identical to the value of 1oz. of platinum on the open market.
This means that these coins were designed with investing in mind. For example, if you put this coin inside of an IRA, the value would be determined by the value of its platinum content.
The spot cost of platinum changes every day, so the value of a Platinum Noble will change every day.
Adding Isle of Man Noble Coins to an IRA
Noble coins are a type of coin that you can put into a self-directed IRA.
By putting real, physical platinum inside of an IRA, people will add more to their investment than they would if they only invested in stocks and bonds. Platinum is a rare metal that is more scarce than gold or silver. People are noticing the value of platinum, and it has become easier to buy and sell.
The IRS lets you invest in gold, silver, and other metals through an IRA. There are many types of IRAs, but only certain ones allow you to put gold, silver, and other metals into them. Some people call these “precious metal IRAs.”
If you want to finance precious metals, you need to buy at least $5,000 worth of them. You should make more purchases as well, but they must each be at least $1,000.If you want to put money in an IRA, you have to transfer the money into a depository. The depository is responsible for safekeeping the metal until it is distributed.
Gold bars/coins must meet minimum purity requirements in order to be included in a retirement account that the IRS approves. All American Eagles are guaranteed by the United States Mint to meet these requirements.
People with IRAs can transfer or rollover their money into a new kind of IRA. This is called a precious metals IRA.
Since the production of Platinum Nobles stopped in 1989, you can only get them from collectors, dealers, or distributors. You can buy them from the American Precious Metals Exchange (APMEX) or the Northwest Territorial Mint.
Summary
If you’re interested in investing your IRA funds into a hard asset that is both scarce and stable, platinum might be the option for you. This precious metal has been praised as one of the most valuable investments on earth due to its scarcity and stability. Platinum Nobles have also proven themselves worthy investment vehicles by offering investors an opportunity to diversify their portfolios with assets outside of stocks or bonds while still being eligible for self-directed IRAs.