Kiribati (Gilbert Islands) New Millenium Coinage 2000

Coins from Kiribati are worth bullion value. That is, they are worth the value of the precious metal they contain. Use web sites such as Kitco.com to look up current values of precious metals.

The $5 and $10 coins are struck in base metal, so they are not worth anything over a few US dollars, even in fully uncirculated condition.

The $20 coin is struck in 21.4 grams (0.69 troy ounces) of sterling silver. Sterling silver is 92.5 percent pure silver. If, say, the current value of silver at $21 US dollars per troy ounce, the $20 Kiribati coin is worth 0.69 x 0.925 x $21, or about $13.

The Kiribati $50 coin contains 0.2 ounces of gold, and the $100 coin contains 0.2 ounces of platinum. Using assumed calculations like we did for silver, the $50 and $100 Kiribati coins are worth about $262 and $300 respectively.

Kiribati, formerly the Gilbert Islands, became an independent nation in 1979 and soon discovered that collectors would pay good money for coins from out-of-the-way places. This is common for island nations.

Fluff and intrigue aside, these coins are worth their weight in precious metal. I call (1) out-of-the-way places, (2) mint packaging, (3) fancy logos, (4) inspiring inscriptions, and (5) the dazzling look of some proof coins 'fluff' because they do not add value to the coins. Be careful, though, shysters of various sorts will try to peddle these sets at prices far beyond what they are really worth. They are wonderful collectibles. But don't pay too much for them! You have to decide for yourself how much the 'fluff' is worth to you.

More information about Kiribati coins can be found at this CoinQuest link.
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