Description
Saudi Arabia’s Gold One Guinea Coins represent the pinnacle of the country’s gold coin designs. These coins served as a gold standard in the emerging Middle Eastern markets during the 1950s, as they were cleverly modelled on the British Gold Sovereigns. Due to their identical weight and gold purity compared to their British counterparts, these coins quickly became a practical means for regional trade settlement. Throughout its history, the Kingdom has produced only five distinct gold coins, with the Gold One Guinea Coins being minted in just two years, specifically to honour the Hejira year 1370, which corresponds to 1950. The total mintage for these coins amounted to two million pieces, marking a significant issue for their brief minting period.
In the first year, 1950, they were minted at the official mint in Lahore, Pakistan. In 1957, the second year of minting, production shifted to the Saudi Royal Mint, which had been established in the holy city of Mecca. Each coin has a face value of 40 Riyals and contains an actual gold weight of 7.98 grams, with a purity of 22 carats (91.67% pure gold). The obverse, or front side, of the Saudi Arabia Gold One Guinea Coins features a stunning calligraphic design. The design includes a beaded circle surrounding crossed swords and palm trees at the bottom. The inscriptions indicate “One Guinea” at the top and “1” in the centre, with the date of minting displayed at the bottom of the coin. On the reverse side, the coins feature several inscriptions. At the top, it states “King of the Kingdom of Saudi Arabia.” The centre design includes crossed swords and a date tree, while the bottom identifies “Saud bin Abdul Aziz Al-Saud,” who was the reigning monarch of Saudi Arabia at the time.
