Silver Ounce 2023 Scottish Unicorn, Coin from Niue - detailed information

Niue, a sovereign state in free association with New Zealand, uses two official legal tender currencies. The New Zealand Dollar is the circulation currency for daily transactions, while the government also authorises legal tender coins in the Niue Dollar currency for collector's purposes.

A number of mints issue a large variety of coins under the authority of Niue. Most of these are commemorative and collector issues dedicated to historical or general popular culture themes not related to Niue itself. 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). Those issued at prices much higher than their bullion value are separately listed in the Non-Circulating Legal Tender (NCLT) silver ounce section of the site.

Unlike them, this coin is targeted at bullion investors and was initially released at a price close to the value of its precious metal content.

This silver bullion coin is part of a European Mint range featuring symbols of the British Isles, and pays tribute to the Scottish Unicorn.

In heraldry the unicorn is best known as a symbol of Scotland: the unicorn was believed to be the natural enemy of the lion – a symbol that the English royals had adopted around a hundred years before. Two unicorns supported the royal arms of the King of Scots and Duke of Rothesay, and since the 1707 union of England and Scotland, the royal arms of the United Kingdom have been supported by a unicorn along with an English lion. Two versions of the royal arms exist: that used in Scotland gives more emphasis to the Scottish elements, placing the unicorn on the left and giving it a crown, whereas the version used in England and elsewhere gives the English elements more prominence. John Guillim, in his book; A Display of Heraldry, has illustrated the unicorn as a symbol of power, honor and respect.

Golden coins known as the unicorn and half-unicorn, both with a unicorn on the obverse, were used in Scotland in the 15th and 16th century. In the same realm, carved unicorns were often used as finials on the pillars of Mercat crosses, and denoted that the settlement was a royal burgh. Certain noblemen such as the Earl of Kinnoull were given special permission to use the unicorn in their arms, as an augmentation of honour. The crest for Clan Cunningham bears a unicorn head.