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Isle of Man ends coin-producing relationship with Pobjoy Mint

Monday, July 25, 2016

The Isle of Man, known among coin investors for producing Angel gold bullion coins and the annual series of cat coins, is to end its longstanding relationship with the Pobjoy Mint.

The private mint has produced the island’s coins for four decades but the long association will come to an end next year.

The Isle of Man was Pobjoy’s first and longest customer. The mint also makes coins for Ascension Island, the British Antarctic Territory, the British Indian Ocean Territory, the British Virgin Islands, the Falkland Islands and South Georgia and the South Sandwich Islands. 

Its relationship with the Isle of Man to make its legal tender, circulating and collectible investment coins will come to an end on March 24 2017, the mint said in a statement. It did not explain why it will no longer be striking coins for the British Crown dependency.

Among the best known Isle of Man collectible gold bullion coins are the Angel coins, which are produced in one troy ounce versions, as well as the cat coins that change design each year. The island is known for its tailless cats and the mint has been making different editions of collectible cat coins on its behalf since 1988. The first Angel coins were issued in 1985.

Pobjoy wished the island well for its future coin production but said that there would be a smaller number of themes produced by the island in the future.

The mint’s Ron Curry told Coin World: “We don’t know why actually, but we do know they are cutting it back. They haven’t given us a reason.”

It means that current editions of some Isle of Man coins will be the last to be produced, at least for the moment, which will make them even more collectible – and valuable – over the longer term.