2017 Somalia 2 oz Silver Elephant BU

The 1 oz Silver African Elephant bullion coin is a beautiful testament to the majesty of the world’s largest land mammal. Part of the African Wildlife series, this bullion coin made of .999 fine Silver was first minted in 1999 under the authorization of Zambia. Beginning in 2004, the series has featured Somalia as the country of issue.

As one of the only Silver bullion coins in the world to change designs annually, the Silver Elephant coin series is sought after by both investors and collectors for its beauty and high Silver content. The reverse of the Silver coin always features one or more elephants in their natural habitat. Since 2004, the obverse features the seal of Somalia, showing two leopards supporting a shield and five-point star. Beneath them is a ribbon draped over two crossed lances and two crossed palm fronds. Prior to 2004, the obverse depicted the seal of Zambia.

Silver Elephant coins are minted at the Bavarian State Mint, which is said to be the oldest company in Munich. The mint began producing coins in 1158 under the authorization of Heinrich dem Löwen. Known locally as Das Bayerisches Hauptmünzamt, it is known for its high standards in manufacturing collector coins, seals and medals.

The history of the Silver Elephant bullion coin is both controversial and fascinating. The coin was first minted by the Bavarian State Mint under the legend of Zambia. In 2004, the mint claims to have been given permission to transfer the series’ legend to the Somali Republic. However, some experts have doubts about the mint’s claim to this authorization. Somalia has never recognized Silver Elephant coins as legal tender and the coins have never been distributed by the Central Bank of Somalia. Much of this confusion can be attributed to the political turmoil and unrest occurring within the country. Ongoing civil war has caused upheaval as Somalia works toward building a federal parliamentary republic. These factors are a likely source for the lack of sufficient documentation to support the Bavarian State Mint’s claims of authorization. Despite these issues, some experts believe the ambiguity surrounding Somalia’s approval of the coin only adds to its value.