Description
Gold 4 Pounds 1945-1946 ARAMCO issue struck at Philadelphia mint in the US for Saudi Arabia; authenticated and PCGS-graded MS61. VERY rare type; only a fraction of the original mintage survived.
These “coins” were struck for the oil company ARAMCO which in return used them to pay for oil concessions in Saudi Arabia. The contract between Aramco and the Saudi government called for a royalty payment of $3 million a year in gold. During the wartime period the Saudi government had accepted this payment in US dollars, but during WW2 gold prices rose to $70 OZT. This sharp rise from the official American price of $35 prompted the Saudis to demand that their royalty payment be made in gold. So, from 1945 to 1946 the US government struck a total of 91,410 of these gold “rounds” at the Philadelphia mint. In international terms the fineness and gold content were equal to four British gold sovereigns. Technically, these gold rounds were called “discs” to avoid any potential legal issues at the time when the US government no longer struck any gold issues. Most of these gold rounds went to Saudi Arabia and than Asia where they were promptly melted-down and turned into gold bars. Just a small fraction of the original mintage survived to the melting pot making it one of the hottest American gold issues collectibles.
ARAMCO was responsible for paying for the gold and the production costs. Each “coin” featured a U.S. heraldic eagle in the center surrounded by U.S. MINT / PHILADELPHIA / U.S.A. John Sinnock (the designer of the Roosevelt dime and the Franklin half dollar) took credit for the art work on obverse. The stamp on reverse was the same stamp that the mint used on official U.S. gold bars. The reverse reads: GROSS WEIGHT 493.1 GRAINS” / “NET WEIGHT (in gold) 452.008333 GR.” / “FINENESS 9162/3. Gold 4 Pounds 1945-1946 ARAMCO issue (KM34); this specimen weights just over an ounce and contains AGW of 0.9419 oz. Struck in medal alignment, reeded rim. This is a great-looking specimen with original satiny mint luster; a few typical bag marks are noted for accuracy. Sharply struck with well-defined details; authenticated and graded MS61 by Professional Coin Grading Service (PCGS) – one of the best and most stringent grading service; PCGS certification number 557990.61/45551743.
Buy with confidence knowing that this coin is 100% authentic, unaltered and professionally graded by some of the most respected numismatic experts. This large US-minted gold 4 Pounds 1945-1946 ARAMCO issue for Saudi Arabia is guaranteed to be genuine or your money back. This “gold-for-oil” type is scarce in any shape or form nowadays and it is VERY hard-to-find in the original mint state; don’t miss your chance to add it to your collection!
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