NGC US SS JOHN BARRY SHIPWRECK SALVAGE COIN WWII 1944 Saudi Arabia Riyal SILVER

Description

World War II Shipwreck Treasure from the SS John Barry
Struck at the Philadelphia Mint, Authenticated by NGC in Uncirculated condition!
ONE OF ONLY A FEW KNOWN 20TH CENTURY SHIPWRECKS!
Comes with Certificate of Authenticity and Information Sheet.
Oil and the War Effort – Why were these coins made?
Late in the summer of 1943, the US Joint Chiefs of Staff considered the world oil situation and believed that the Allies might run out of oil before the end of the war. It was decided that the construction of a massive oil refinery in Saudi Arabia was essential to the war effort. The project was undertaken by the California Arabian Standard Oil Company, which later became ARAMCO, with the American government. These silver coins were struck to pay workers for the project in Saudi Arabia, and the U.S. agreed to provide the silver and the Philadelphia mint to produce the riyals. They were minted in 1944 at the U.S. mint in Philadelphia as part of a top secret initiative to help avert a wartime oil crisis. Each coin contains 91.6% silver . As cargo on the SS John Barry, the riyals were destined for the Saudi Arabian oil fields to support the Allied war effort. This secret cargo remained classified until 1984 when documentation revealing the existence of the precious cargo was declassified.
On July 14th 1944, the SS John Barry sailed from New York to Philadelphia where she was loaded with a cargo of silver Saudi riyals. Ten days later, the ship left Virginia in a confoy and arrived in Egypt on August 19th; afterwards she sailed to the Arabian Sea via the Suez canal. Despite measures to escape detection, she was struck by a torpedo from a German submarine. This treasure of silver coins was recovered in 1994 from the wreck of the SS John Barry off of the coast of Oman after an extensive and intense salvage operation. The ship was at rest on the bottom of the ocean 1.6 miles below the surface.
Obverse: The symbol of Saudi Arabia, crossed swords flanked by palm tress, Arabic legend “The King of the Kingdom of Saudi Arabia”
Reverse: Arabic number 1 flanked by palm trees, Arabic legend “One Saudi Arabian riyal”
Most of the coins recovered from the wreck were heavily damaged and corroded from seawater exposure.
Only a very limited quantity with this high of a quality in uncirculated condition was hand selected to be authenticated by NGC!