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COIN CLUB
In Saudi Arabia in the 1940's paper money was unacceptable and payment to the government needed to be made in gold or silver. The Aramco Oil Company needed to pay the Saudi government royalties and other payments in gold. and had the Philadelphia Mint produce some gold 'disc' like coins, as above, for these payments.
U. S. government specifically minted approximately 121,364 of these 'discs' as bullion type coins. The coins were the same weight and fineness as a British Sovereign and contained 0.2354 of an ounce of gold or approximately 5 U.S. dollars.
Most of these Sovereign type 'discs' were re-melted back into gold bullion bars and so the remaining examples still available are now quite rare.
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