Advanced Search

BERMUDA MONETARY AUTHORITY (BERMUDA SHIPWRECKS COMMEMORATIVE COINS) REGULATIONS 2006

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
Fitted Dinghy Commemorative Coins Regulations 2005
BERMUDA MONETARY AUTHORITY (BERMUDA SHIPWRECKS
COMMEMORATIVE COINS) REGULATIONS 2006


1





BR 41 / 2006

BERMUDA MONETARY AUTHORITY ACT 1969

1969 : 57

BERMUDA MONETARY AUTHORITY (BERMUDA SHIPWRECKS
COMMEMORATIVE COINS) REGULATIONS 2006


The Minister of Finance, in exercise of the powers conferred by
section 13 of the Bermuda Monetary Authority Act 1969 and on the
recommendation of the Bermuda Monetary Authority, makes the
following Regulations:

Citation
1 These Regulations may be cited as the Bermuda Monetary
Authority (Bermuda Shipwrecks Commemorative Coins) Regulations
2006.

Interpretation
2 In these Regulations —

“Authority” means the Bermuda Monetary Authority; and

“commemorative coins” means the Bermuda Shipwreck
Commemorative Coins.

Issue of Bermuda Shipwrecks Commemorative Coins
3 The Authority may, in accordance with the specifications set out
in these Regulations, issue a maximum of 12 commemorative coin series
of lobed-shaped triangle coins in various sizes to commemorate
shipwrecks in Bermuda waters.

BERMUDA MONETARY AUTHORITY (BERMUDA SHIPWRECKS
COMMEMORATIVE COINS) REGULATIONS 2006


2



Denomination
4 The denomination of the commemorative coins shall be as
follows —

Coin 1 – one ounce silver - $3

Coin 2 – one-twentieth ounce gold - $3

Coin 3 one ounce gold - $30

Coin 4 – five ounce silver - $9

Coin 5 – five ounce gold - $90

Coin 6 – five ounce platinum - $300

Coin 7 – one kilo silver - $60

Coin 8 – one kilo gold - $600

Form and design of coins
5 The form and design of the commemorative coins shall be in
accordance with the sample coins deposited with the Authority and in
particular —

(a) the obverse design of every coin shall be the portrait by
sculptor Ian Rank-Broadley of Her Majesty Queen
Elizabeth II in profile, together with the inscription
"BERMUDA", "ELIZABETH II" and the respective year
"2006";

(b) the reverse design of the first six coins of the series shall
depict —

(i) the sailing ship Sea Venture in the centre and the
circumferential lettering with the inscriptions “SEA
VENTURE”, “Anno Domini 1609”, a depiction of a
hog, and the denomination;

(ii) the sailing ship Hunter Galley in the centre and the
circumferential lettering with the inscriptions
“HUNTER GALLEY”, “Anno Domini 1752”, a
depiction of a hog and the denomination;

(iii) the steamer Mary Celestia in the centre and the
circumferential lettering with the inscriptions
“MARY CELESTIA”, “Anno Domini 1864”, a
depiction of a hog and the denomination;

(iv) the sailing ship North Carolina in the centre and
the circumferential lettering with the inscriptions
“NORTH CAROLINA”, “Anno Domini 1880”, a
depiction of a hog and the denomination;

BERMUDA MONETARY AUTHORITY (BERMUDA SHIPWRECKS
COMMEMORATIVE COINS) REGULATIONS 2006


3



(v) the steamer Pollockshields in the centre and
circumferential lettering and the inscriptions
“POLLOCKSHIELDS”, “Anno Domini 1915”, a
depiction of a hog and the denomination;

(vi) the sailing ship Constellation in the centre and the
circumferential lettering and the inscriptions
“CONSTELLATION”, “Anno Domini 1943”, a
depiction of a hog and the denomination; and

(c) the shape of every coin shall be 3 lobed.

Standard weight and composition
5 The standard weight and composition of the commemorative
coins, and the amount of tolerance and variation allowed therein, shall
be as set forth in the Schedule.

SCHEDULE (regulation 5)


Remedy Allowance


Standard Standard



Denomination Standard Weight Diameter Edge Weight Composition Diameter


Composition (grammes) (millimeters) (grammes) (millimeters)

Three Dollars 925Ag 33.63g 35mm plain -0+0.42g silver 92.5% Ag
+/-7.5% Cu

+/-0.8mm

Three Dollars 999Au 1.555g 15mm plain + / -0.05g gold 99.9% Au +/-0.8mm

Thirty Dollars 999Au 31.489g 35mm plain + / -0.23g gold 99.9% Au +/-0.8mm

Nine Dollars 999Ag 155.52g 65mm plain + / -1.59g silver 99.9%Ag +/-0.8mm

Ninety Dollars 999Au 155.52g 65mm plain + / -0.81g gold 99.9%Au +/-0.8mm

Three hundred
Dollars

99.95%
Platinum

155.52g 65mm plain + / -0.78g platinum
99.95%

+/-0.8mm

Sixty Dollars 999Ag 1000g 100mm plain +10g silver 99.9%Ag +/-0.8mm

Six Hundred
Dollars

918Au 1091g 100mm plain +10g gold 91.8% Au,
3.18%Ag,
5.02%Cu

+/-0.8mm



Made this 26th day of April, 2006





Minister of Finance