100 Shillings Elephant Gilded, Silver

Somalia's elephant coin series, running since 1999, is technically a Somali legal tender issue but has always been aimed squarely at the bullion and collector market — the country itself has had no functioning central banking system for most of the series' run. The coins are produced and distributed by the German firm Bayerische Münzkontor, which holds the licensing arrangement. The gilding on this variant is applied selectively after striking.