1977 Republic of Cyprus £50 Gold Proof Coin (Archbishop Makarios III Memorial)
Coin (Numismatic/Commemorative Gold) · Yellow Gold (Rich warm tone with slight reddish hue due to copper content)
Purity: 22K (917/1000 Fineness). This purity signifies 91.7% pure gold content, alloyed primarily with copper for durability, similar to the British Sovereign or American Gold Eagle standards.
Type
Coin (Numismatic/Commemorative Gold)
Purity
22K (917/1000 Fineness). This purity signifies 91.7% pure gold content, alloyed primarily with copper for durability, similar to the British Sovereign or American Gold Eagle standards.
Gold Type
Yellow Gold (Rich warm tone with slight reddish hue due to copper content)
Weight
15.98 grams (Actual Gold Weight/AGW: 0.4707 troy ounces)
Description
An exquisite gold commemorative coin issued by the Republic of Cyprus in 1977 to honor the memory of Archbishop Makarios III. The reverse displays a stylized map of Cyprus with 'NICOSIA' marked, an ancient ship (the Kyrenia ship) sailing above, and dolphins leaping below. The design evokes the maritime heritage of the Mediterranean island while utilizing the prestige of 22-karat gold.
Key Features
Denomination of £50, distinct map of Cyprus, Kyrenia ship motif, and high-relief proof strike. It was issued during a significant period of Cypriot political history.
Color & Finish
Intense deep yellow with a mirror-like 'Proof' finish. The design elements feature a frosted 'cameo' effect against highly reflective fields, typical of high-quality commemorative strikes.
Hallmarks & Stamps
The coin features 'REPUBLIC OF CYPRUS' and the denomination '£50'. While it lacks traditional jewelry hallmarks, the 1977 date and official minting serve as its authenticity markings. Minted by the Royal Mint, UK.
Dimensions Estimate
Diameter of 28.40 mm and a thickness of approximately 2 mm.
Gemstones & Inlays
None. The artistic value is derived from the high-relief die-struck design.
Clasp & Closure
Not applicable (Numismatic item). The coin is currently housed in a protective acrylic airtight capsule.
Chain & Links
Not applicable. The edge of the coin is reeded (milled) to prevent metal shaving and tampering.
Craftsmanship Details
Exceptional Royal Mint proof quality. The 'cameo' contrast between the frosted map and the mirrored sea is achieved through sandblasting the dies and polishing the fields to a mirror finish.
Authentication Indicators
Sharpness of the strike on the ship's sails, precise lettering of 'REPUBLIC OF CYPRUS', and reeded edge uniformity. The weight-to-diameter ratio (16g at 28mm) is a key diagnostic for the 1977 issue.
Origin & Maker
Republic of Cyprus; struck at the Royal Mint in Llantrisant, Wales.
Era & Period
Contemporary/Modern Numismatic (Late 20th Century). This piece reflects the 'Bold Gold' aesthetic of the 1970s commemorative market.
Age Estimate
Dated 1977 (47 years old).
Cultural Significance
Represents the transition of Cyprus into a modern independent republic and honors its first leader. The use of the Kyrenia ship connects the modern state to its 4th-century BC Hellenistic roots.
Condition Notes
Excellent / Proof (Choice BU). The reflective fields appear clean with no major hairline scratches or milk spots. It remains in its protective capsule, preserving its 'as-struck' luster.
Value Estimate
Market value is determined by the gold spot price (~0.47 oz AGW) plus a numismatic premium of 10-25% depending on current demand for Middle Eastern/Mediterranean coins. Expected retail: $1,200 - $1,450 USD.
Care & Maintenance
Do not remove from the protective capsule. Avoid touching the surface with bare fingers, as skin oils can cause permanent 'toning' or spotting on 22K proof surfaces. Store in a cool, dry place away from PVC-containing plastics.
Similar Items
South African Krugerrand (same purity, different weight), British Sovereign (smaller, same purity), or the 1980 Cyprus Gold £50 (similar theme).
Interesting Facts
This coin was issued as a memorial to Archbishop Makarios III, the first President of Cyprus, who passed away in 1977. Only 15,000 to 20,000 of these specimens were reportedly minted, making it rarer than many standard bullion coins.