Singapore Local Eagle silver coin

Imagine this. You have just graduated from school and there is practically nothing that you can list under your credential. You are nobody and very few know who you are. This was exactly how Singapore felt in the early 1970s, a few years into nation building. We need to tell the world about this island – our beautiful Singapore.

So, when we released our first commemorative silver coin in 1972, a local sea eagle was featured on the $10 coin. Yes, though we are small, we do have animals like eagles and deer on this island. I suspect that this is actually the white bellied sea eagle, the largest birds of prey in Singapore. This bird can be found mainly in the coastal area. I remember seeing one or two many years ago and I wonder where they are now. Later in 1976, this bird was again featured on the $10,000 note of the Singapore Bird series currency.

 

 

 

This silver coin was issued again in 1973 and 1974 subsequently.

 

Type	Mintage	Silver Content	Wt (oz)	Issue Price (SGD)
1972 Unc	80,000	90%	1	10.20
1972 Proof	3,000	90%	1	25
1973 Unc	80,000	90%	1	10.20
1973 Proof	5,000	90%	1	30
1974 Unc	100,000	50%	1	10.20
1974 Proof	6,000	50%	1	30

 
The average price of silver was about US$3 in the early 1970s. It has gone up a few folds since then. Unlike gold, you cannot pawn silver easily in Singapore, so I believe you will be able to find them readily in the market.

Rarity:

150th Anniversary of the founding of Singapore Gold Coin

When Sir Stamford Raffles, a British statesman, set foot on Singapore in 1819, little did he know that this little island would one day become a prosperous and developed nation. Nevertheless, he recognized immediately the natural attributes of this island in becoming an important trading port in the region – a natural harbour sitting at the tip of the Malay Peninsula.

At that time, there was no GPS (Global Positioning System) to guide the ships. To prevent the ships from running aground and to help them navigate safely through the narrow Straits of Malacca, lighthouses were built. One of the important lighthouses built in the 1850s was erected on a little rock called Pulau Satumu at the very southernmost end of Singapore. It was named after Sir Stamford Raffles for his contribution to this island.

When Singapore became independent in 1965, we were a very small country with no natural resources, high unemployment and practically little economic growth. Trading and commerce activities through the ports of Singapore dominated a large part of our economy. In 1969, when Singapore decided to issue its first commemorative coin, it featured the Raffles Lighthouse to commemorate the 150^th Anniversary of the founding of Singapore by Sir Stamford Raffles (1819 to 1969).

Below is a photo of this coin from SembCorp - the parent company of Singapore mint.

150th Anniversary of the founding of Singapore Gold Coin

Type	Mintage	Issue Price (SGD)
$150 Uncirculated Gold Coin (22-carat)	198,000	151.50
$150 Gold Proof Coin (22-carat)	500	225

198,000 uncirculated gold coins and 500 gold proof coins were issued in 1969. Gold price was about $40 over US dollars an ounce then. Over the years, gold price has gone up many folds. Hence, many of the coins were pawned and melted down for a tidy profit. My suspicion is that not many people realize the numismatic value of these coins at that point in time. This coin represents a very important part of the founding history of Singapore.

You can still purchase the uncirculated gold coins from the coin dealers at a premium. However, I doubt there are more than 10 gold proof coins available in the world. You will probably find them in auction houses selling easily for more than $10k and a good proof coin is very rare and hard to come by.

Rarity:



Copyright: This above article is meant to promote the understanding of the importance of these coins in the history of Singapore. If you need any part of it, please let me know and I will be glad to share with you.