proof that the saudi's got a gold kicker for their oil........time to rewrite the history books...............From CoinLink
''In Saudi Arabia, gold coins have always been important in the monetary
system. For years, in fact, paper money was unacceptable, and to pay
royalties to the government, Aramco once flew kegs of both gold and
silver coins to jiddah. In 1952, when the Saudi Arabian Monetary Agency
(SAMA) was formed, the first coin issued was a Saudi sovereign – a gold
coin equal in weight and value to the British sovereign – that was later
demonetized and today sells for about $124.''
''To collectors, however, the most interesting Saudi gold coins weren’t
coins at all; they were “gold discs” Similar to coins, they were minted
by the Philadelphia Mint in the 1940’s for Aramco, and bore, on one
side, the U. S. Eagle and the legend “U. S. Mint, Philadelphia, USA”
and, on the other side, three lines on the fineness and weight. They
looked like coins, they were used as coins, but, technically, they
weren’t coins.''
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