Islamic gold coins

Islamic Gold Coins

For coin collectors interested in world history, Islamic gold coins are an investment that will allow you to indulge your interest and make a smart money move all at the same time. While most collectors are familiar with European, ancient Roman and Russian gold coins, not as much attention has been paid to Islamic gold pieces. This may be on the cusp of changing however, as the Internet has helped make these coins more available to collectors.

Two notable forms of Islamic coins are the dinar and the dirhan. In years past, most Muslim nations were united under a caliph, a spiritual and secular ruler. These coins were minted at the beginning of the second Caliphate. The dinar generally has a gold weight of about 4.3 grams, while the dirham is a silver coin with a silver weight of 3.0 grams.

These coins were the first official currency of the Caliphate, and were struck around the year 644. The dinar was originally an Islamized copy of the Roman denarius. The coins usually had an Arabic standing figure on the coin’s obverse side and on the reverse an Arabic motto such as “In the name of Allah, the Merciful and Compassionate.

Recently, new Islamic dinars have been minted, and Muslims are being encouraged to abandon the U.S. dollar and use the dinar for currency reserves and trade. The new dinar is a gold bullion coin that is minted from 4.25 grams of 22 carat gold. The coin is not to be confused with paper currency dinars used in various Muslim nations.

The modern Islamic dinar was first proposed in the late 90s during the Asian financial crisis. The idea was put forward by the nation of Malaysia. The new dinars were intended to replace the dollar to provide a more stable medium of exchange.

The idea to replace the dollar with the dinar has yet to pick up steam — in fact, Malaysia abandoned the idea in 2003 — but many new dinars have been minted and are being used by Muslims around the world.

Muslims in Malaysia use the dinars for savings, to pay zakat and dowry as established by Islamic law and general commerce. One popular form of gold dinar in Malaysia is the Kelantanese dinar, issued by the local government of Kelantan in Malaysia. Coin collectors have a variety of options to pursue when they wish to purchase historical or modern gold Islamic coins.

The Barakat Gallery has a Web site with a very extensive collection of gold coins for collectors to choose from. The gallery requires buyers to register, and there may be some other requirements to fulfill before buying, but the great variety Barakat offers is worth jumping through the hoops.

You may also try other online dealers to obtain ancient Islamic gold coins, but be sure to do your due dilligence before making a purchase. Research the coin you’re buying thoroughly, and if something doesn’t add up, don’t make the purchase.

For modern Islamic gold dinars, e-dinar.com is a good site for buying Islamic gold bullion coins. On the site you can buy the coins and have them physically delivered to you, or you can just get a certificate of ownership for some coins the site will hold for you.