Good morning stackers, today I wanted to showcase a gold item that has been on my "want list" for a very long time.
This is a Aramco Gold Disc, really cool and rare
These made for Saudi Arabia bullion coins were minted in Philadelphia by the United States Mint in 1945 and 1947.
At that time the Arabian American Oil Company "Aramco" was set up in Saudi Arabia by four American oil companies. Each year Aramco had to pay $3 million in royalties to the Saudi government. The contract specified that the payment had to be made in gold.
Back then the dollar was governed by a gold standard so the Saudis accepted payment in United States currency. However by 1945, they insisted for payments in gold after the decoupling of the dollar to the precious metal.
Aramco, faced with the prospect of either a cut off of much of Middle Eastern oil or the increase in the price of oil, they turned to the United States government for help. As a solution, the American government minted 91,210 large gold discs bearing the Great Seal’s eagle.
The Saudi Arabian bullion coins thus looked like coins, and they were used as coins, but they weren’t technically coins. The coins were shipped off to Saudi Arabia, and most were later melted down into bullion.
These pieces fetch a massive premium due to their rarirty and history. I've seen a few on YouTube being proudly displayed and I've wanted one for myself ever since. One day I may be in a situation where I can acquire one and you can bet if that time comes I'll be a very happy boy!
Thanks for reading and have a great day 👍😎
I can see you having one, you always mange to get a hold of cool and unique pieces. Thanks for the info. 😎👊
Maybe if I hit the lottery? Lol Thanks for reading my post Ray 👊😎
Very cool. I bet the price on these are super high.
Big time. Less than a quarter oz of gold sells for 2k plus and appreciates every year
I love learning about gold coins that have a story behind them, so thanks for sharing this with us. I hope you are able to get your hands on one of these sometime in the future, @goldenarms!
Thanks for saying that! They are pretty cool and unique pieces for sure
Very nice, I have never seen one before but now i want one lol
Buy two and give me one 😝
That's a sweet piece! I looked them up and there was one on Amazon for $2,800. That's a steep price. Although, like you said, they're rare and have a unique history. I hope you can get one!
Thanks is steep but they are around grandish. Definately a cool and unique piece of history
You mean the private sellers on Amazon were trying to jack up the prices? NO! :)
Would be cool to own, but you can get a lot of different silver pieces for that amount of $.
nice! I bet all would like to have the originally sized ones too...
Hey @goldenarms, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! Cheers :)
Oh wow what a cool back story. I'm not surprised they are had to find now since I'm sure most are either in SA or have been melted.
What an interesting history of the coin = ) It definitely is rare and I understand now why you want it so much . Have you seen any of these being sold and for how much ? Do you know how many of them are left in total or that's something you don't have an information of?
Thank you for contributing to the Steemit Community.Keep up the great work and I'm looking forward to your next posts.
You have received an upvote from STAX. Thanks for being a member of the #steemsilvergold community and opting in (if you wish to be removed please follow the link). Please continue to support each other in this great community. To learn more about the #steemsilvergold community and STAX, check this out.
They are ok...... Not on my wishlist. You will get one one day :)