|Coin||Gold Ounce 2020 Caribbean Reef Octopus|
Grenada is a sovereign island country in the Caribbean which uses the Eastern Caribbean Dollar (EC$) as its currency; it is the common currency of six independent states and two British Overseas Territories. The EC$ has both common and national issues. All common circulating coins are issued under the authority of the Eastern Caribbean Central Bank and have no issuing country specified on them. Separately, each member country can also strike coins bearing its national symbols; these coins are legal tender in all members states, and are usually commemorative or bullion not intended for general circulation. Most of the member states are also members of the (British) Commonwealth of Nations and share the same monarch with the United Kingdom, so that the effigy of the monarch is displayed on the coins and banknotes of the currency.
Grenada has authorised some foreign mints to strike coins under its issuing authority for collector's purposes. Some of these are in popular bullion formats, such as one troy ounce (1 oz) of gold.
This coin is part of the third edition of the Eastern Caribbean 8 (EC8) series of premium bullion coins by the Scottsdale Mint, which has a new annual design for each country of the Organisation of Eastern Caribbean States (OECS). The 2020 design for Grenada features the Caribbean Reef Octopus.
The Caribbean reef octopus (Octopus briareus) is a coral reef marine animal. It has eight long arms that vary in length and diameter. The mantle is large and chunky in comparison (up to 60 cm long). This species is difficult to describe because it changes colour and texture to blend into its surroundings, using specialised skin cells known as chromatophores. Its colour range is very large; it can change from crimson to green, and bumpy to smooth. It weighs around 1.5 kg. The Caribbean reef octopus lives in hidden, rocky lairs that are difficult to locate. Their lairs are usually created in shallow warm waters. It is not a social animal, and stays at a safe distance from other octopuses of the same species, except for mating. If faced with a predator, a Caribbean reef octopus, like most other octopuses, sucks up a volume of water then expels it quickly in the form of a jet to propel itself away. To further deter predators, it can eject ink to mask its escape. This octopus does not live in its lair for its entire life; instead, it moves often except when caring for eggs or young
The obverse of the coins shows the crowned mature head of Queen Elizabeth II facing right (her effigy known as the "Fourth Portrait"). The Queen wears the "Girls of Great Britain and Ireland" diamond tiara, a wedding gift from Queen Mary (Her Majesty's grandmother) in 1947 - which she also has on the Machin and the Gottwald portraits.
Normally, the artist's initials IRB (for Ian Rank-Broadley) are below the portrait when it is used; however, they are not displayed here.
The effigy is surrounded by a laurel wreath. The central circle has a frosted finish.
In the rim, within a plain border, around above the name of the issuing authority: EASTERN CARIBBEAN CENTRAL BANK. Around below, the legend of the monarch, QUEEN ELIZABETH II.
Facing outward, around below left the precious metal content of the coin: 1 OZ .9999 GOLD (one troy ounce of 99.99% gold); around below right, the face value TEN DOLLARS.
The reverse of the coin depicts an octopus in its natural habitat, a coral reef.
Around above, the name of the country: GRENADA, below which the date of issue 2020.
Around below, the inscription Caribbean Reef Octopus.
Packaging: in serialised Certi-Lock packaging (assay card).
Coins issued in the EC8 series in 2020 include:
- Anguilla, 1 oz Gold, Coat of Arms of Anguilla, 2020
- Anguilla, 1 oz Silver, Coat of Arms of Anguilla, 2020
- Antigua and Barbuda, 1 oz Gold, Rum Runner, 2020
- Antigua and Barbuda, 1 oz Silver, Rum Runner, 2020
- Dominica, 1 oz Gold, Hummingbird, 2020
- Dominica, 1 oz Silver, Hummingbird, 2020
- Grenada, 1 oz Gold, Caribbean Reef Octopus, 2020
- Grenada, 1 oz Silver, Caribbean Reef Octopus, 2020
- Montserrat, 1 oz Gold, Montserrat Oriole, 2020
- Montserrat, 1 oz Silver, Montserrat Oriole, 2020
- Saint Kitts and Nevis, 1 oz Gold, Siege of Brimstone Hill, 2020
- Saint Kitts and Nevis, 1 oz Silver, Siege of Brimstone Hill, 2020
- Saint Lucia, 1 oz Gold, Whiptail Lizard, 2020
- Saint Lucia, 1 oz Silver, Whiptail Lizard, 2020
- Saint Vincent and the Grenadines, 1 oz Gold, Pax et Justitia, 2020
- Saint Vincent and the Grenadines, 1 oz Silver, Pax et Justitia, 2020