Very interesting - the issues in the 1950s must have been a novelty, because until then only gold and silver coin were real money. I wonder how the average Saudi felt about getting paper money instead of coins?
Thanks. The notes were named Hajj Pilgrim Receipts [vouchers] and issued by the then newly formed central bank - Saudi Arabian Monetary Agency (SAMA).
If you are ever in Riyadh, there is a money changer around the corner from the Ministry of Education building downtown (at least there was 10 years ago when I was there). He had a box full of old Saudi notes -- all types and denominations including P-1. They were just thrown in this large box. I bought a fair number of EF-AU early notes for a little over face -- he sold them at the same price regardless of condition. The only notes that sold for a significant premium were the P-1. He wanted about $750.00 per note but he probably had at least 50 of them. I could not afford that one on my sergeant's pay.
One of the curious aspects of the Saudi notes is that early on they followed Islamic tradition and did not have the monarch on the notes like they do now. I wonder what changed over time to allow that? I have a few of the earlier notes from the 1960's, they have appreciated considerably in value over the past few years.
I would surely try to check on that but I doubt if the place would still exist with the rapid pace of development in the area over the last few years. Regards
True; but that didn't last for long. This early issued 100 SR shows the founder monarch King AbdulAziz on its face: . . ..
Yes I reside and work in Saudi Arabia. Here are some more old notes from the times of King Faisal rein 1965-1975. 5 R: . . 10 SR: . . 50 SR:
Precisely. Prophet Mohamed is buried beneath the green dome seen in the 50 SR note, but the place has seen much rejuvenation and expansion since the days of King Faisal. This is the 1 Riyal note from the same period: . .
