Israel markets first bullion coin


(JTA) — Israel issued its first gold bullion coin to mark Jerusalem Day.

The coin, nominally valued at 20 shekels, will be retailed at a price linked to the price of gold on the day of sale.

On Wednesday, the day of issue and the Hebrew calendar anniversary of Jerusalem’s reunification in 1967, the price was listed at 6,393 shekels, or $1,702.

The coin is issued by the Bank of Israel and marketed by the Israel Coins & Medals Corp., a former government entity that has been privatized.

Featuring the Lion of Judah on one side and a bas relief of Jerusalem’s Tower of David on the other, the coin is the first in a series called "Jerusalem of Gold," according to the ICMC Web site.

Bullion coins, made of a pure precious metal, are marketed as an investment in a number of countries. South Africa famously markets the krugerrand and the United States markets the American eagle, among other coins.

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