Silver Two Ounces 2023 Noble, 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 large two ounces of silver, abbreviated as 2oz Ag, where Ag comes from the Latin word for silver, Argentum. The coins are considered Non-Circulating Legal Tender (NCLT) because they are "premium" editions released at prices much higher than their bullion value.

The mint says about this coin:
"The Noble coins have been issued by the Isle of Man since the early 1980s. Despite their world-wide popularity, they have not been minted every year. This adds to the appeal of the coins, as earlier issues are difficult to acquire. For the 2022 issue, we were privileged to further develop the Noble, updating it with its first change to the original design since its introduction in 1983. Due to the enthusiastic response of our customers to last year's edition, we now present the 2023 release in splendid proof with the portrait of King Charles on the obverse."

It is usually said that Nobles 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 "Noble" 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 two-ounce size is equal to 10 pounds.