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 Sovereign (Pound), ND (1947). Philadelphia Mint. NGC MS-62.
Fr-191; KM-35. AGW: 0.2354 oz. Aramco issue. A very unusual numismatic items that highlights a unique moment in economic history. A very nice mint state example offered here.
Fr-191; KM-35. AGW: 0.2354 oz. Aramco issue. A very unusual numismatic items that highlights a unique moment in economic history. A very nice mint state example offered here.
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: $1500 - $2500