100 Shillings Elephant, Silver Bullion Coinage

Somalia's elephant bullion series, launched in the early 2000s, is one of the more unusual sovereign bullion programs — issued under Somali legal authority despite the near-total collapse of the central government in Mogadishu. The coins were produced and marketed almost entirely through European distributors, with the Somali state functioning in name only as the issuing authority. By 2012, the series had developed a genuine following among bullion stackers drawn to the annually changing elephant design, which gave it collector crossover appeal unusual for a pure bullion issue.

KM#240 corresponds to the 2012 date variety distributed primarily through the German firm Geiger Edelmetalle.