Apart from its regular circulating coinage, Fiji has authorised a number of private mints to issue collector coins in precious metals, which are legal tender in the country but are not intended for general circulation. Many of them are in standard bullion sizes - typically, one ounce of silver (abbreviated as 1 oz Ag, where "Ag" comes from the Latin word for silver, Argentum). These are usually made using "smartminting" or other innovative techniques and are dedicated to historical or general popular culture themes not related to Fiji itself.
The coins are "Non-Circulating Legal Tender" (NCLT) and not bullion because they are issued at prices much higher than their bullion value and are targeted at collectors who appreciate them for their artistic or sentimental value, and not at bullion investors. |
