NGC Featured Registry Set: Ukraine Archangel Michael

With war raging in Ukraine, we look at that country’s Archangel Michael bullion series. The silver 1-ounce coins, denominated 1 Hryven, have been issued by the National Bank of Ukraine continually since 2011, and in different weights of gold sporadically.

The coins all feature the Archangel Michael, who is the patron saint of the city of Kyiv and has been a national icon for centuries. Numerous churches and statues throughout Ukraine are dedicated to Michael, who cast Satan out of Heaven, according to Revelation 12:7-12.

He appeared on the country’s coat of arms in the 16th century, and was later replaced in 1969 by Soviet authorities before being restored in 1995. As on the coin, Michael is often depicted wearing armor and armed with a sword. With Ukraine’s future in question again, the Archangel Michael is more relevant than ever.

Two coins from Fenntucky Mike's set. Click images to enlarge.

The NGC Registry has two complete silver sets courtesy of Fenntucky Mike (who also has a complete set of the tenth-ounce gold Archangel Michael coins) and silver1320.

Fenntucky Mike has all 22 silver coins in MS 70 or PF 70 except for the 2014 F15 Privy, of which only one MS 70 exists. Fenntucky Mike calls this his “white whale,” writing, “It’s a tall task as the F15 coins are often flawed due to a combination of poor packaging, handling and storage.”

Fenntucky Mike and silver1320 have both led the category in the past, and even though Fenntucky Mike regained the top ranking in June, silver1320 is looking for 70s to wrestle the top spot back.

The key to the series is a 2016 coin erroneously struck using .925 silver planchet instead of .999 fine; only 40 of these errors have been certified by NGC. NGC verified the error using X-ray microscopy.

Although the National Bank of Ukraine website, updated in May, lists a 2022 Archangel Michael silver coin, no date has been given for its release. Despite being a bullion series (with all coins being a BU with only one PF issued in 2017), the coins have surpassed their issue price (which initially had a premium over the bullion value) and trade in many cases for several times the bullion value. As the series has gained popularity, prices of the earliest issues have increased even more. The first issue, the 2011 coin with a mintage of only 10,000, now trades above $200 uncertified.

Fenntucky Mike bought his 2011 MS 70 raw and submitted it himself. “Due to the premium associated with it, I only had one shot at submitting it as I wasn’t going to try again,” he wrote.

Since he only began collecting the Archangel Michael series in 2015, Fenntucky Mike had to bite the bullet on some of the coins. He keeps his eye on other young bullion series, such as the South Africa Mint’s Natura, silver 1-ounce dinosaur coins, which began in 2020.

Thank you, collectors, for your contributions to the NGC Registry and to our collecting family. We look forward to seeing your updates for the 2022 NGC Registry Awards! It is sure to be an exciting adventure!

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Would you like your set to be featured in a future article? 100% completion in a set is not always feasible. Perhaps we will choose someone whose set has a personal story behind it or some interesting historical facts. We are looking for those sets where someone has taken the time to make the set unique and a reflection of his/her personal collecting style. It may be your set! Stay tuned.

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Credits:
CNA
APMEX