Saudi Arabia Abdulaziz (Ibn Saud) 1 Sovereign

History

1 Sovereign 1947, KM# 35, Saudi Arabia, Abdulaziz (Ibn Saud)

Obverse. Photo © Heritage Auctions

Description

The history of these items is remarkably intriguing. Although not officially classified as coins, they were minted by the U.S. Mint in Philadelphia to settle debts owed to the Arabian American Oil Company (ARAMCO) of Saudi Arabia. They carry the same weight as the widely favored British gold sovereign of that era. These coins marked the U.S. Mint's return to gold coin production, a practice halted since 1933 when private ownership of U.S. gold bullion was prohibited.

Obverse	Animal (fish, bird, mammal etc.) Eagle Coat of arms Great Seal of the United States Military Arrow Depicts the Great Seal of the United States surrounded by the inscriptions in English. The Great Seal of the United States depicts a bald eagle, with a shield and its wings outstretched, holding a bundle of 13 arrows in its left talon (referring to the 13 original states) and an olive branch in its right talon, together symbolizing that the United States has a strong desire for peace, but will always be ready for war. The eagle has its head turned towards the olive branch, on its right side, to symbolize a preference for peace. The Great Seal is a principal national symbol of the United States. The phrase is used both for the physical seal itself, which is kept by the United States Secretary and more generally for the design impressed upon it. The obverse of the Great Seal depicts the national coat of arms of the United States. U.S.MINT PHILADELPHIA-U.S.A.
Reverse	Depicts the weight of the coin. ⋆ CONTAINS ⋆ .2354 TROY OZS. ⋆ FINE GOLD⋆
Edge	Reeded (milled)