20 Dollars Elephant

Liberia has issued legal tender coinage since the mid-nineteenth century but has no domestic mint, outsourcing virtually all production to facilities in Europe and, more recently, private mints in Asia. This piece belongs to a category of modern fractional gold issues produced primarily for the bullion and collector market rather than any anticipated circulation — Liberia's economy runs on the U.S. dollar in practice, making a 20-dollar denomination a nominal fiction.

At 0.311 g, this is 1/100 troy oz gold.