Old and new coins of Saudi Arabia

2024 Author: Sierra Becker | [email protected]. Last modified: 2024-02-26 03:45

The official currency of the Land of the Two Mosques (as Saudi Arabia is often called) is the riyal. With fabulous gold backing, the Saudi riyal has been convertible into foreign currency since its early days.

The riyal coin is called halal. There are 100 halals in one riyal. One riyal could be exchanged with a coin of 100, 50, 25, 10 and 5 halals. To date, the 100 halal coin has been withdrawn from circulation.

Coins of Saudi Arabia. Historical background

The first coins that appeared in the everyday life of the Arabians at the beginning of the last century (more precisely, in 1928) were called kirshi. At the same time, for the first time, metal money was minted in denominations of one riyal, half riyal and a quarter of riyal. Each coin contained 19.96 grams of pure silver.

Until 1932, the design of the coins was unchanged - a circle of dots loomed on both sides, and next to it were inscriptions in Arabic. The reverse indicated the face value of the coin. The lower part of the obverse was occupied by the coat of arms of Saudi Arabia. From 1932 to 1935 the diameterThe silver riyal decreased, and in 1935 its design also changed. The name of the country appeared on the small silver riyal and its change money (denominations of half a riyal and a quarter of a riyal). A year later, the amount of silver contained in these coins was reduced to 10.69 gr.

Pure gold…

In October 1952, a completely new coin for Saudi Arabia was minted (photo in the article) - the sovereign. This gold coin was in no way inferior to the English sovereign (both coins contain 7.98805 grams of gold). In the same year, King Abdulaziz Al Saud became the founder of the official state Monetary Agency, and the riyal received the status of the national currency.

At the end of the 50s of the last century, coins of denominations of 4 and 2 kirshi appeared (they were minted from a copper-nickel alloy), and halals were introduced six years later.

At the beginning of the 60s, a new coin of Saudi Arabia appeared - 1 halal, and a decade later, the Arabians launched the production of other halal denominations. All of them were minted from an alloy of nickel and copper.

Beginning of the oil era

The beginning of the oil "fever" contributed to the strengthening and popularization of the riyal: in the 70s of the last century, Saudi Arabia went down in history as the largest oil state.

Today, the Land of the Two Mosques is among the richest countries on the planet, and its national currency has gained global importance. The reason is not only the scale of oil production. Saudi Arabia has now turned its attention to an item of income thatI didn't think it was serious before. We are talking about the tourism business that has made this country even more popular and rich.

At the very end of the last century, the production of bimetallic money in denominations of 1 riyal began, and at the beginning of 2007, 50 halals were minted. This coin from Saudi Arabia is inscribed with the name of Abdullah, the Saudi King. In September of the same year, the Saudi state announced its refusal to be economically dependent on the US dollar.

This event did not happen immediately. At the end of 2009, the exchange rate of the national Saudi currency against the dollar was 3.75 riyals, and Saudi bankers bought dollars at 3.74 riyals. Buying one dollar cost the Arabians 3.77 riyals.

Today, in the circulation of the Kingdom of Saudi Arabia there are coins in denominations of one riyal, as well as 50, 25, 10, and 5 halals. Old money - kurush (kirshy) - has not yet been withdrawn from circulation, but is quite rare.

Numismatic value of Saudi coins. Collectors opinion

At the numismatic auction today you can buy sets of coins of Saudi Arabia. For example: