Daily Israel Report

A Shekel That Is Worth Twice as Much as Gold

The Bank of Israel’s limited mint of gold bullion coins has been fetched up by collectors and now is worth twice their weight in gold.
By Tzvi Ben Gedalyahu
First Publish: 3/26/2012, 4:57 PM

Shekels
Shekels
Israel news photo: Arutz Sheva

The Bank of Israel’s limited mint of gold bullion coins has been fetched up by collectors and now is worth twice their weight in gold.

The two coins had a limited mint of 3,600, and the one-ounce “Tower of David” gold coin has sold out and has doubled in value in the international coin collector market, according to the marketing agent, the Israel Coins and Medals Corp.

The "Western Wall" Bullion coin, the second in the series, was released on Jerusalem Day last year and is marketed for $2,057. The Bank of Israel plans to unveil a third coin on Jerusalem Day this year.

The coins are legal tender with a face value of 20 shekels and are priced 20 percent above the price of gold, which fluctuates daily. The shekel today is worth slightly less than 27 cents, and the 20-shekel coin has a face value of approximately $5.35. Gold is trading on Monday at $1,657 an ounce.

The Western Wall coin features the “Lion of Megiddo,” taken from an ancient seal, on one side. Above the figure of the lion appears the State of Israel emblem and below it the word “Israel” in English, Hebrew and Arabic.

The reverse side shows the Western Wall, the outer wall of the courtyard of the Temple Mount, which the Roman Empire destroyed in the year 70.