Ma`din Bani Sulaim Umayyad Gold Coin (723)

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Umayyad Gold Dinar Coin:— The Umayyad gold dinar coin is a gold coin that was minted in 723, with metal mined from the Ma`din Bani Sulaim in Saudi Arabia, which is still active as of 2011. It sold for $6.03 million dollars ($6.6 million dollars in 2017[1]) in that very year at the "Morton and Eden" auctioneers in London. At the time of it's sale it was the 2nd most expensive coin ever sold (the most expensive was bought for $7,590,020 dollars). It was expected sell for less than $1 million dollars (valuated at £300,000—£400,000 pounds; or about $481,300[2]—$641,700 dollars[3]). However a bidding war broke out between four collectors, which ballooned costs, with the eventual winner being a private European citizen in his eighties. An earlier Islamic coin minted in 711 (the same year Spain was conquered by the Umayyads) sold for much less at over a million dollars (£648,000 pounds; or about $1.04 million dollars[4]); estimates were however in the range of £250,000—£300,000 pounds ($401,100[5]—$481,300 dollars[2]). It is believed to have been sold at such a high price because the Caliph was known to have purchased land near where the mine's location was. However it is not entirely known where to have been struck (believed to have been Damascus, Syria). Another earlier coin, this time silver, dating back to the Oman Sultanate in 709 also broke records; selling for £1,080,000 pounds ($1.73 million dollars[6] originally estimated to sell for between £20,000—£30,000 pounds or between $32,090[7]—$48,130 dollars[8]).[9]

Umayyad gold dinar coin; worth in excess of $6 million dollars in 2011.
Other Post-Reform Umayyad Gold Coins (696—753)
Umayyad gold dinar coin; worth in excess of $6 million dollars in 2011.

Umayyad Gold Dinar Coin:— The Umayyad gold dinar coin is a gold coin that was minted in 723, with metal mined from the Ma`din Bani Sulaim in Saudi Arabia, which is still active as of 2011. It sold for $6.03 million dollars ($6.6 million dollars in 2017[1]) in that very year at the "Morton and Eden" auctioneers in London. At the time of it's sale it was the 2nd most expensive coin ever sold (the most expensive was bought for $7,590,020 dollars). It was expected sell for less than $1 million dollars (valuated at £300,000—£400,000 pounds; or about $481,300[2]—$641,700 dollars[3]). However a bidding war broke out between four collectors, which ballooned costs, with the eventual winner being a private European citizen in his eighties. An earlier Islamic coin minted in 711 (the same year Spain was conquered by the Umayyads) sold for much less at over a million dollars (£648,000 pounds; or about $1.04 million dollars[4]); estimates were however in the range of £250,000—£300,000 pounds ($401,100[5]—$481,300 dollars[2]). It is believed to have been sold at such a high price because the Caliph was known to have purchased land near where the mine's location was. However it is not entirely known where to have been struck (believed to have been Damascus, Syria). Another earlier coin, this time silver, dating back to the Oman Sultanate in 709 also broke records; selling for £1,080,000 pounds ($1.73 million dollars[6] originally estimated to sell for between £20,000—£30,000 pounds or between $32,090[7]—$48,130 dollars[8]).[9]

Other Post-Reform Umayyad Gold Coins (696—753)

Sources

References

  1. ^ a b how much is $6,029,400 dollars from 2011 worth now?. Wolfram Alpha. Retrieved January 17th, 2017.
  2. ^ a b c d How Much is £300,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  3. ^ a b How Much is £400,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  4. ^ a b How Much is £648,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  5. ^ a b How Much is £200,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  6. ^ a b How Much is £1,080,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  7. ^ a b How Much is £20,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  8. ^ a b How Much is £30,000 pounds in US Dollars?. Wolfram Alpha. Retrieved January 17th, 2017.
  9. ^ a b Islamic Coin Sells For £3.7 Million In Morton & Eden Sale – Second Most Expensive Coin Ever Sold at Auction. April 5th, 2011. Coin Week. Retrieved August 12th, 2016.
  10. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al am an ao ap aq ar as at au av aw ax ay az ba bb bc bd be bf bg bh bi bj bk bl bm bn bo bp bq br bs bt bu bv bw bx by bz ca cb cc cd ce cf cg ch ci cj ck cl cm cn co cp cq cr cs ct cu cv cw cx cy cz da db dc dd de df dg dh Ken Adlard, Maud Eden, Stephen Lloyd, Tom Eden (March 7th, 2006). A complete set of Umayyad gold dinars and other coins of the Islamic World. Morton and Eden. pp. 9-12. Retrieved August 22nd, 2016.

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