534) Laughing Buddha: Two Commemorative Coins Gold (One Dollar) and Silver (10 Dollars) issued by the Republic of Palau in coordination with Coin Investment Trust (CIT), minted by B.H.Mayer’s Kunstprageanstalt, Munich in 2017:

534) Laughing Buddha: Two Commemorative Coins Gold (One Dollar) and Silver (10 Dollars) issued by the Republic of Palau in coordination with Coin Investment Trust (CIT), minted by B.H.Mayer’s Kunstprageanstalt, Munich in 2017:

The Republic of Palau has issued two commemorative coins which are available in two editions – one Gold (1 Dollar) and another 2 ounce fine Silver (10 dollars) – the two coins feature the ever cheerful “Laughing Buddha” or “Budai”.

The Reverse of the Silver edition 10 Dollars coins take the form of a seated laughing Buddha.

The Obverse of the Silver edition 10 Dollars coins depicts the official Coat of Arms and name of the “Republic of Palau” below an outrigger canoe with the canoeist on board. This face also shows the denomination of the coin “10 Dollars”.

The specifications of the 10 dollar Silver coin are:

Issuing country: Republic of Palau; Year of Issue: 2017; Denomination of coin: 10 Dollars; Metal Composition: .999 Silver; Weight: 2 Ounces; Diameter/Size: 38.61 mm; Coin Quality: Proof; Mintage: 888. Custom Box: The silver coins come with a Custom Box.

Remarks: The Silver edition coins have been brought out by Coin Invest Trust in high relief with their Smartminting technology and have gilded sections on the Black Proof Finish coin field. The Minting has been carried out b B.H.Mayer’s Kunstprageanstalt, Munich. 

                  The silver coins come with the above Custom Box

 The  Silver Coins come in a attractive transparent covered glass case

The Reverse of the shaped Gold edition coins take to form of a seated laughing Buddha. The charming Laughing Buddha coin has been struck in a stylised relief.

  The Obverse of the shaped Gold edition coins depicts the official Coat of Arms and name of the “Republic of Palau” below an outrigger canoe with the canoeist on board. This face also shows the denomination of the coin “1 $”.

The specifications of the 1 dollar Gold coin are:

Issuing country: Republic of Palau; Year is Issue: 2017; Denomination of coin: 1 Dollar; Metal Composition: .9999 Gold; Weight: 0.5 grams; Diameter/Size: 13.92 mm; Coin Quality: Brilliant Uncirculated; Mintage: 15,000.

Remarks: The Gold edition coins have been minted by Coin Invest Trust with their Big Gold Minting technology. The Minting has been carried out by B.H.Mayer’s Kunstprageanstalt, Munich.

                        The Silver & gold coins placed side by side

The Laughing Buddha (or Mendicant):

The story of the symbolism of the Laughing Buddha is popular around the World. It originates from the time of a mendicant named Wang Zhen, who lived during the 10^th Century AD. He is believed to have been a good man and of affable disposition, though he was an eccentric Chan monk who lived in China during the Later Liang (907-923 AD). He was a resident of Zhejiang and his Buddhist name was Qieci. 

                  Wang Zhen Budai depicted sitting under a pine tree

He was of frugal character and always wearing a cheerful smile on his lips. The name “Buddha” or “Budai” or “Putai” or “Hotei” is derived from a term meaning “Cloth Sack”, a bag in which he collected handouts (gifts) for children and for the poor.

He is usually identified with or seen as an incarnation of Maitreya, the future Buddha, so much so, that the Budai image is one of the main forms in which Maitreya is depicted in China. His statues can also be seen in Yiguandao temples where he is referred to by the Sanskrit name Maitreya.

He is generally shown as smiling or laughing, hence he has been given the nickname – the “Laughing Buddha”, but he is not to be mistaken for Gautam Buddha.

Budai is an admired figure for his happiness, plenitude (abundance) and wisdom of contentment.

One popular belief is that rubbing his belly brings wealth, good luck and prosperity. He represents many teachings, including contentment, generosity, wisdom and open kind heartedness of the Buddha.

          An image of Hotei, one of the seven gods of good fortune

As Hotei, the originally Chinese Laughing Buddha or Budai became one of the Seven Lucky Gods in Japanese Zen Buddhism. Although the “Laughing Buddha” is not seen in Zen temples, he is a popular figure seen in restaurants, entrances to homes, hospitality establishments et al.

 His appearance:

Budai is traditionally depicted as a fat, bald man wearing a robe and carrying prayer beads. He carries his few possessions in a cloth sack, being poor, and symbolises both contentment and abundance. He is often entertaining or being followed by children.






Links to Posts on Australia, New Zealand and countries and Overseas Territories of the South Pacific on this blog:

1) Bank of Papua New Guinea: 36th Anniversary Celebrations (1973-2008): A Commemorative Uncirulated Coin Set consisting of a 2 Kina Banknote & a 2 Kina Coin

2) Papua New Guinea: An uncirculated coin set brought out in 1995 commemorating the 20th Anniversary of Independence 

 3) Currency & Coinage of the Soloman Islands: Dollars and Cents

4) New Zealand: New Banknote "Seventh Series" issued under Project "Brighter Money" from 2015 onwards

5) Coinage of the French Polynesian Island of Caledonia (or Nouvelle Caledonie) the CFP Franc  

6) French Institution for issuing uniform currency/coinage for French Overseas Territories in the Pacific and the French Southern Territories of Antarctica: The Institut d'emmission d'outre Mer (IEOM)

7) Currency & Coinage of Samoa: Tala and Sene 

8) Currency of the South Pacific Island Country of Fiji 

9) Coinage of New Zealand: A commemorative coin set issued in 1979 

10) Currency and Coinage of Australia: Dollars and Cents 

11) The Australian Emblem or the Coat of Arms 

12) The story of the Australian Penny 

13) The Legend of the Mutiny on the Bounty: A Commemorative Coin Set from the Pitcairn Islands depicting relics from the Bounty issued in 2009 

14) An Australian $5 coin issued in 1996, commemorating Australia's greatest cricketing legend - Sir Donald Bradman 

15) New Series/Generation of Australian Banknotes being introduced from 01.09.2016 onwards starting from $5 issues 

16) Southern Lights: A $1 Silver holographic coin issued by the Reserve Bank of New Zealand in January 2017

Other interesting links to posts from Cook Islands & Republic of Palau minted by Coin Invest Trust:

1) Brexit : Britain's exit from the EEC : Coins issued by the Cook islands in the denomination of $1, $5 and $ 20 in 2016 

2) 150th Anniversary of "The Great Tea Race - 1866": Commemorative Coins in the denomination of 10 and 2 Dollars issued by Cook Islands in 2016

3) The Mystical Ancient Egyptian Labyrinth depicted on $10 Silver coins issued by Cook islands in 2016, under its "Milestones of Mankind Series".

4) King Arthur: The first coin in the six coin "Camelot Series".

5) Queen Guinevere: The second coin in the six coin "Camelot Series".

6) Republic of Palau issues "Sand Dollars": Silver & Gold 1$ coins

7) Laughing Buddha: Two Commemorative coins - Gold (One Dollar) & Silver (10 Dollars) issued by Republic of Palau in 2017