Stack's Bowers & Ponterio
January 2023 NYINC Auction 13-16 Jan 2023
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UNITED STATES OF AMERICA. Saudi Arabia - United States. Sovereign (Pound), ND (1947). Philadelphia Mint. PCGS MS-63.
Fr-191; KM-35. AGW: 0.2354 oz. Aramco issue. An ever-popular type, this semi-bullion issue offers a rather sharp strike for the issue along with intense brilliance and alluring color.
Fr-191; KM-35. AGW: 0.2354 oz. Aramco issue. An ever-popular type, this semi-bullion issue offers a rather sharp strike for the issue along with intense brilliance and alluring color.
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.
From the Augustana Collection.
Estimate: $2500 - $3500