The Kingdom of Bhutan has used the Ngultrum (དངུལ་ཀྲམ) as its currency since 1974. Apart from its regular circulating coinage, the Royal Monetary Authority of Bhutan has also authorised some foreign mints to issue coins under its jurisdiction, which come in a variety of sizes - including in the internationally popular silver five ounces (5 oz silver) very large format, denominated usually as 1,000 Ngultrum. These coins are considered Non-Circulating Legal Tender (NCLT) and not bullion, because they are released at prices significantly higher than the intrinsic (bullion) value of their precious metal content. |
