The Republic of Suriname is a former Dutch colony, governed as Dutch Guiana until 1954, that borders Brazil to the southeast. The Surinamese bullion coin from European Central Mint is their first. The coin is provided with a Surinamese face value (10 Surinamese dollars), and is therefore considered official currency. It’s a well done coin, if a little unadventurous, and the quality appears to be high. Importantly, it’s premium above spot is small in comparison to some of the more traditional silver bullion coins so makes a very prudent buy for the stacker. Suriname is undergoing a boom in silver and gold mining and earlier in 2015 opened its first refinery in a joint venture with Dubai-based Kaloti Precious Metals, the first of its kind in the region. Suriname currently mines around 40 tonnes of gold a year.
It was seen as likely that the partnership between Suriname and the ECM would bring with it further releases, but it appears not to be. As of early November 2013, the Directors of the ECM have been arrested, rumours say for fraud, and the Central Bank of Suriname is trying to break the agreement, apparently for over a year. We don’t know how Suriname will move forward, only that there seems to be a desire to. The final mintage may never be known and the gold coin in the video below never saw the light of day as far as we know.
Manufactured using only LBMA-certified fine silver with a minimum fineness of 999/1000, the Surinamese bullion coin has a weight of one ounce (31.103 g) and a diameter of 38.6mm. The reverse side of the coin displays a map of Suriname and the Latin phrase, “Serva Me Servabo Te,” which means, “Save me and I will save you.” The stars arranged in a half circle represent the ten districts of Suriname. The obverse side depicts the coat of arms of Suriname as well as details including the denomination, fineness, and weight. The edge is reeded.
All products were produced directly at European Central Mint in Amsterdam, but no more.
|$10 SURINAME||0.999 SILVER||31.103 g||38.60 mm||REEDED||B/UNC|