THE PERTH MINT HAS NOW BEEN WORKING WITH TUVALU FOR AROUND TWO DECADES TO CRAFT PRECIOUS METAL COINS ISSUED IN ITS NAME.
King Charles III is Tuvalu’ s Head of State. Royal visits throughout the British monarchy ' s reign have helped strengthen ties between the Royal Family and the local people.
The population of just 11,000 inhabitants is primarily involved in subsistence fishing and agriculture. The national economy is therefore dominated by government activity and a significant proportion of income is generated by sales of its internet domain(. tv) to media companies around the world.
Tuvalu has strong economic bonds with regional Commonwealth members Australia and New Zealand. So much so that its official currency is the Australian dollar, which between 1966 and 1976 served as its sole circulating coinage.
Following independence, Tuvalu introduced its own 1, 2, 5, 10, 20, 50 cents and 1 dollar coins. The designs showcase several aquatic creatures found in its spectacular marine environment.
However, Tuvaluan coins remain a variation of the Australian dollar distinguished by the currency code TVD.
These circumstances offered the small population another useful means of income generation. As an official issuing authority, the government launched what has become an internationally recognised modern numismatic coin program featuring many remarkable collectable and investment issues.
Yet without any significant industry in Tuvalu, people often wonder how this came about.
The answer is that Tuvaluan coins are made in Australia – a country blessed with gold and outstanding minting credentials.
Under long standing contractual agreements, the Mint is the exclusive manager of all Tuvalu legal tender precious metal bullion, numismatic and base metal coin programs. Crafted to the exact same standards as the Mint’ s Australian issues, each one bears the effigy of His Majesty King Charles III and a face value expressed in Tuvaluan dollars.
These coins are a valuable part of the noncirculating legal tender landscape. By virtue of the royalty payment they earn, they also contribute to the economy of one of the most remote nations on Earth.
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