The upcoming Stack’s Bowers Galleries October Collectors Choice Online Auction featuring Ancient and World coins includes a piece that provides a look into the early years of the significant relationship between the United States and Saudi Arabia. The modern relationship began in 1945 just after the Yalta Conference. President Franklin D. Roosevelt met with King Ibn Saud to discuss many relevant topics including joint security and the creation of the Jewish state of Israel. 1945 also marked the year in which ARAMCO (Arabian-American Oil Company) renamed itself from the previous iteration: California-Arabian Standard Oil Company. Also in 1945, the Philadelphia Mint produced gold bullion coinage to make a concession payment to the Saudi Arabian government for oil rights.
This type is easily recognized as a product of the Philadelphia Mint with "Philadelphia" appearing on the obverse below the prominent eagle motif. "U.S. MINT" is stated above the eagle. The reverse is a simple three-line inscription inside a sunken rectangle which states: "GROSS WEIGHT – 493.1 GRAINS / NET WEIGHT – 452.008333 GR. / FINENESS 916 2/3". The upcoming offering, graded MS-62 by NGC, is quite handsome for the type with bold design features and attractive medium gold patina.
We are currently accepting consignments of World and Ancient coins and World Paper Money for our October 2018 Collector’s Choice Online Auction as well as the January 2019 New York International Auction. We are also seeking consignments of Chinese and other Asian coins and currency for our March 2019 Hong Kong Showcase Auction. If you are interested in consigning your coins and paper currency (whether a whole collection or a single rarity) contact one of our Consignment Directors.
