Gold Quarter Ounce 2014 Angel, Old Design, Coin from Isle of Man - detailed information

The Isle of Man has its own circulating coinage, which is used in parallel with the British Pound Sterling; it also issues an extensive range of commemorative coins for collectors, as well as bullion coins in a variety of formats and designs for investors in precious metals.

One of the formats used is the internationally popular one quarter of a troy ounce (1/4oz) of gold. An early design issued in this format was the Angel, depicting Saint Michael slaying the dragon. The original Angel was a gold coin introduced in England by King Edward IV in 1465 as a new issue of the Noble. Based on a French coin, the Angelot or Ange, its name was derived from the representation of the Archangel St. Michael. The image of the Archangel Michael slaying the dragon was thought to bring good luck and health and was traditionally given to sufferers of the disease the "King’s evil" or scrofula, in a medieval ceremony intending to cure them with the "royal touch".

It is usually said that modern Angels are legal tender but without a fixed face value, like the Krugerrand or Mexico’s Libertad which are legal tender to the value of their precious metal content. However, according to the various Currency Determinations by The Treasury of the Isle of Man authorising each issue, under section 6 of the Currency Act 1992, the "Angel" denomination is equal to 5 pounds in face value, with fractions or multiples divided or multiplied as required by the fraction or multiplier shown on the reverse of the coin - hence, the quarter ounce has a nominal face value of £1.25 (one and a quarter pounds).

This coin was issued as part of a two-coin set marking the 30th anniversary of the series, and has the same design as the 1984 release; there was another release in 2014 with an updated design where the Archangel faces right.