1947 POUND SAUDI ARABIA PCGS MS 62 CERT# 26081237

Description

These pieces have an extremely interesting history. They are not technically considered coins due to a coin being legal tender with a clear monetary value. In fact they are closer to tokens, which are coin-like items that are stuck in metal or any other material that has monetary value but is not legal tender They were struck by the U.S. Mint in Philadelphia in order to satisfy the debts owed to Saudi Arabia’s Arabian American Oil Company, or ARAMCO. They weigh the exact same amount as the British gold sovereign, which was extremely popular at the time. This interesting history, along with a relatively simplistic design and high value, has made these pieces a popular target for counterfeiters.The genuine examples of this type feature fields that consist of numerous bumps in an almost pebble-like pattern. Fakes also show this design, but it can be weaker and often fades out by the letters. A lack of this texture near the letters is a red flag that the piece could be fake.