Description
The Saudi Arabia 1 Guinea 1957 AH 1377 is a rare and valuable gold coin that holds historical significance. Minted in 1957 during the reign of King Saud bin Abdulaziz, this coin is a testament to the rich numismatic history of Saudi Arabia.
Saudi Arabia Gold One Guinea Coins represent the pinnacle of Saudi gold coin designs. These pieces were the gold standard for the emerging market Middle East in the 1950’s, as they were astutely modelled on the British Gold Sovereigns. Thanks to their weight and gold purity being identical to their sister gold coins from the U.K., these quickly grew into a practical means of conducting regional trade settlement. The Kingdom has actually only produced five separate gold coins in its entire history, with these gold guineas having been struck only in two years in honour of the Hejira 1370 year which corresponds to 1950.
Mintage for these coins amounted to two million pieces, making them a major issue for only two years of minting. In the first year 1950, they were minted at the Lahore, Pakistan official mint, while in the 1957 second year they were minted in the Saudi Royal Mint which had been established in the meanwhile in the Kingdom’s holy city Mecca. The coins contain a face value of 40 Riyals and an actual gold weight of 7.98g in 22-carat (91.67% pure gold).
