Watch List notes:

EGYPT: Fuad, 1922-1936, gilt AR medal (26.95g), gilt silver 20 qirsh coin, reverse planed off and hand-engraved, honoring King Fuad's visit to the city of al-Mahalla, EF to AU. City Visit Medallic 20 Piastres in gilt silver, for Fuad's 1931 visit to Mahalla el-Kubra, agricultural and industrial city in the Nile Delta. Obverse as KM-352; reverse engraved commemorative inscription with crown above. Made from a regular issue 20 Piastres by Maison Tewfik Bichay, Cairo, official jewelers and makers of orders and medals for the royal court. They were most likely made for the King to distribute to prominent officials and dignitaries during his visit to the city. This is the Bichay Company archive specimen acquired from the Bichay family by our consignor. We have seen only one other specimen on the market in the last half century. This piece sold in Stephen Album Auction 25, Lot 1861, for $3,000.

Estimate: 1,200-1,600 USD