Ascension Island is a small island in the South Atlantic Ocean which is part of the British overseas territory of Saint Helena, Ascension and Tristan da Cunha. The currency of the island is the Saint Helena pound, fixed at parity with the pound sterling. The island has authorised some private mints to issue coins under its jurisdiction, which come in a variety of sizes - including the large gold five sovereigns denomination, the specifications of which are compatible with the British five sovereigns, with a nominal face value of £5 (five pounds) and composition of 22k gold.
The coins are considered "Non-Circulating Legal Tender" and not "bullion", since they are issued at prices much higher than intrinsic value of their precious metal content. |
