Stack's Bowers & Ponterio
January 2022 NYINC Auction 14-16 Jan 2022
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UNITED STATES OF AMERICA. Saudi Arabia - United States. Gold 4 Pounds, ND (1945-46). Philadelphia Mint. NGC MS-62.
Fr-190; KM-34. Aramco issue. Struck as payment for usage of Saudi oil fields, this American issue has the unique characteristic of following the fineness and weight of the British gold monetary system, being struck in 22 carat gold and having the weight of 4 Sovereigns. A highly interesting crossover type, four Pound issues are far less common the one Pound type.
Fr-190; KM-34. Aramco issue. Struck as payment for usage of Saudi oil fields, this American issue has the unique characteristic of following the fineness and weight of the British gold monetary system, being struck in 22 carat gold and having the weight of 4 Sovereigns. A highly interesting crossover type, four Pound issues are far less common the one Pound type.
These were minted at the United States Mint in 1947 for payment to the Saudi Government for oil drilled from Saudi lands by the hybrid American oil venture that had located oil in Saudi Arabia in the early 1940s. Despite being an American issue, the gold was struck in the exact fineness and with the same weight as a British Sovereign. This was due to Saudi Arabia's close ties at the time to the British Empire. Under pressure that Saudi Arabia would nationalize oil fields in the 1950s the American interests in Saudi Arabia's oil were forced to split profits in the kingdom making these issues moot for any future considerations.
Estimate: $2500 - $3500