The official currency of the Country of two mosques (as Saudi Arabia is often called) is riyal. Possessing fabulous gold security, the Saudi riyal from the first days began to be converted into foreign currency.
The ryal coin is called halal. One riyal contains 100 halal. One riyal could be exchanged with a coin in 100, 50, 25, 10 and 5 halal. To date, a coin in denomination of 100 halal has been withdrawn from circulation.
Coins of Saudi Arabia. Historical reference
The first coins that appeared in everyday life of the Arabians at the beginning of the last century (more precisely, in 1928) were called kirshes. Then, for the first time, metallic money was denominated in denominations of one riyal, half a riyal and a quarter of riyal. Each coin contained 19.96 grams of pure silver.
Until 1932, the design of the coins was unchanged - a circle of dots loomed on both sides, and inscriptions in Arabic next to it. The reverse indicated the face value of the coin. The lower part of the obverse was occupied by the emblem of Saudi Arabia. From 1932 to 1935, the diameter of the silver rial decreased, and in 1935 its design changed. The name of the country appeared on a small silver riyal and its bargaining money (dignity of a polial and a quarter of a riyal). A year later, the amount of silver contained in these coins was reduced to 10.69 g.
Of pure gold ...
In October 1952, a completely new coin for Saudi Arabia was minted (photo in the article) - the sovereign. This gold coin was in no way inferior to the English sovereign (both coins contain 7.98805 grams of gold). In the same year, King Abdul-Aziz Al Saud became the founder of the official state Monetary Agency, and riyal received the status of the national currency.
At the end of the 50s of the last century, coins of denominations of 4 and 2 kirshes appeared (they were minted from a copper-nickel alloy), and after another six years, halal were introduced.
In the early 60's, a new Saudi Arabian coin appeared - 1 halal, and a decade later, the Arabians launched the production of other halal denominations. All of them were minted from an alloy of nickel and copper.
The beginning of the oil era
The beginning of the oil “fever” contributed to the strengthening and popularization of rial: in the 70s of the last century, Saudi Arabia went down in history as the largest oil state.
Today, the Country of two mosques is among the richest countries on the planet, and its national currency has acquired global significance. The reason is not only in the scale of oil production. Currently, Saudi Arabia has drawn attention to the income item, which it previously considered not serious. It is a tourism business that has made this country even more popular and rich.
At the very end of the last century, the production of bimetallic money in denominations of 1 riyal began, and at the beginning of 2007, 50 halal were minted. The name of Abdullah, the Saudi King, is inscribed on this coin of Saudi Arabia. In September of the same year, the Saudi state refused to be economically dependent on the US dollar.
This event did not happen immediately. At the end of 2009, the exchange rate of the national Saudi currency against the dollar was 3.75 riyals, and Saudi bankers bought up dollars at 3.74 riyals. Buying one dollar cost the Arabians 3.77 riyals.
To date, the circulation of the Kingdom of Saudi Arabia contains coins in denominations of one riyal, as well as 50, 25, 10, and 5 halal. Old money - kurushi (kirschi) - has not yet been withdrawn from circulation, but is quite rare.
The numismatic value of Saudi coins. The opinion of collectors
At numismatic auctions today you can buy sets of coins of Saudi Arabia. For instance:
- A set of seven coins minted in 2016 is sold for 711 rubles. This included coins in denominations of 1 and 2 reals, 1, 5, 10, 25 and 50 halal;
- a set of five Saudi coins worth 173 rubles. This set includes metal money in denominations of 5, 10, 25, 50 and 100 halal, which were minted from 1977 to 2010.