Silver Two Ounces 2018 Pegasus, Coin from British Virgin Islands - detailed information

Silver Two Ounces 2018 Pegasus, Coin from British Virgin Islands
CoinSilver Two Ounces 2018 Pegasus

The British overseas territory of the Virgin Islands has used the United States Dollar as its currency since 1959 - even before it gained autonomy in 1967. However, the territory has also authorised a number of mints to issue non-circulating and bullion coins under its name, denominated in British Virgin Islands Dollars. These do not circulate as regular currency, and are targeted at collectors, or investors in precious metals.

One of the formats used for the purpose is the internationally popular two troy ounces (2oz) of silver size.

This coin is part of the Pegasus range of bullion coins issued by the Pobjoy Mint under the jurisdiction of the British Virgin Islands.

Pegasus is one of the best-known creatures in Ancient Greek mythology. This winged horse is usually depicted as white in color and was always considered a good-hearted and gentle animal.

The story of Pegasus begins when Perseus is sent to kill one of the three Gorgons, Medusa, who had writhing snakes instead of hair. It was said that anyone unfortunate enough to gaze on her face would turn to stone. The god Hermes and the goddess Athena came to aid Perseus with special gifts, including a shield which Perseus used as a mirror so he did not look directly at Medusa. When Perseus beheaded Medusa, it is said that Pegasus was born from the blood of the Gorgon. Many wanted to capture Pegasus, but no one could figure out how to tame such a magnificent creature.

Throughout his life, Pegasus remained a mysterious creature that symbolised divine inspiration or the journey to heaven. As a reward for his service and loyalty, Zeus honoured him with a special kind of immortality, turning him into a constellation on the last day of his life.

MintPobjoy Mint Mint MarkLetters PM Total Mintage 5,000
Obverse
British Virgin Islands / Silver Two Ounces 2018 Pegasus - obverse photo

The obverse of the coin features a mature portrait of Queen Elizabeth II, facing right, wearing the Royal Diamond Diadem crown which she wore for her Coronation, pearl earrings, and a pearl necklace.

In small letters below the shoulder truncation on the left, the mint mark of the Pobjoy Mint, PM.

Around above, the monarch's legend and the date of issue: BRITISH VIRGIN ISLANDS QUEEN ELIZABETH II 2018.

Obverse Inscription BRITISH VIRGIN ISLANDS QUEEN ELIZABETH II 2018
Reverse
British Virgin Islands / Silver Two Ounces 2018 Pegasus - reverse photo

The reverse of the coin depicts the mythical horse Pegasus rearing up to left, with his wings spread.

Above left, the face value $1 (one dollar).

In small letters around below, the precious metal content Ag 999. 2 OUNCE (two troy ounces of 99.9% silver), above which a small privy mark: a rectangle with the letter P incuse in it, marking the coin as "proof" grade (as opposed to uncirculated).

Reverse Inscription $1 Ag 999. 2 OUNCE
EdgeMilledEdge InscriptionNone
Notes

Finish: reverse proof (according to the marking on the actual coin), but listed as "reverse frosted BU" (Brilliant Uncirculated) by dealers selling it.
Packaging: in coin capsule.

The coins is like a "piedfort" of the silver bullion ounce - same diameter, but double thickness.

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Silver Two Ounces 2018 Pegasus: Known varieties
Variety 12 OUNCE error
Mintage Issued: 200 (included in total)
Details

Some coins were properly struck as a Brilliant Uncirculated 2-ounce coin, but when reverse frosting was applied in creating the Reverse Proof effect for the piedfort mintage, a template for frosting a portion of the 1-ounce coin was mistakenly overlaid on the coins. This results in a doubling of the text, where the relief reads "2 OUNCE" but the frosting reads "1 OUNCE" and, because they are not properly aligned, the overall text looks like "12 OUNCE".

An estimated 200 coins have the defect.

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Silver Two Ounces 2018 Pegasus: Details
CountryBritish Virgin Islands
CurrencyBritish Virgin Islands Dollar
Coin TypeSilver Two Ounces (2 oz), Bullion
Issued2018
MonarchQueen Elizabeth II
EffigyQueen Elizabeth II - Portrait by Pobjoy Mint
Face Value1 (x Dollar)
Total Mintage5,000
CurrentYes
Material0.999 Silver
TechnologyMilled (machine-made)
ShapeRound
OrientationMedal Alignment (Axis 0)
Size38.6000 mm
Thickness6.000 mm
Mass62.2000 g
OCC IDBVYX-EWRC-GVQX-OJZN
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Silver Two Ounces 2018 Pegasus: Photos
ImageDetails
Silver Two Ounces 2018 Pegasus: Photo 2018 BVI 2 oz Silver Pegasus Frosted BU / thumbnail 2018 BVI 2 oz Silver Pegasus Frosted BU
Copyright: APMEX
Source
Silver Two Ounces 2018 Pegasus: Photo 2018 BVI 2 oz Silver Pegasus Frosted BU / thumbnail 2018 BVI 2 oz Silver Pegasus Frosted BU
Copyright: APMEX
Source
Silver Two Ounces 2018 Pegasus: Catalogue Reference IDs
SourceReference ID
Krause, Standard Catalog of World CoinsBritish Virgin Islands KM# 584