Reply to Thread

Message:: [QUOTE="johnmilton, post: 25578376, member: 101855"]According to numismatic researcher and author, Roger Burdette, these pieces were paid to the Government of Saudi Arabia as part of a foreign aid package. According him, ARAMCO had nothing to do with it. They have been called "American sovereigns." They were issued in 1945 and again in 1947. The 1945 pieces had a gold content that was equal to four British gold sovereigns. [ATTACH=full]1637571[/ATTACH] The 1947 pieces were equal to one British gold sovereign. These pieces are a bit scarcer. [ATTACH=full]1637572[/ATTACH] The Saudis were able to sell these pieces in India for significant premium. They were counterfeited, and if you decided to buy one or both, certification is highly recommended. It was illegal for Americans to own these pieces until President Gerald Ford rescinded the laws against American gold ownership in the mid 1970s. Still, coin dealers bought and sold them "under the table" before then. I bought this 1950 Saudi Arabian gold sovereign for bullion a few years ago at a coin show. It is NGC certified. I've read that some of the American pieces were melted to make these coins. [ATTACH=full]1637574[/ATTACH][/QUOTE]