Author Topic: Egypt: 2015 coin commemorates new Suez Canal  (Read 4312 times)

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Offline Bimat

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Egypt: 2015 coin commemorates new Suez Canal
« on: July 30, 2015, 07:40:25 AM »
Egypt to issue New Suez Canal commemorative coin

Jul. 29, 2015 17:02

CAIRO: Egypt’s Cabinet has approved the Suez Canal Authority’s proposal to issue a commemorative coin for the upcoming inauguration of the “New Suez Canal” on August 6, Finance Minister Hany kadry announced in a Wednesday statement.

“The Egyptian Mint Authority, an affiliate of the Finance Ministry, will issue the commemorative 21-carat gold coin in different weights; including quarter and half ounce as well as two-five ounces and put it up for sale,” Kadry said in the statement.

One face of the coin will show the New Suez Canal logo and the phrase “The New Suez Canal from Egypt to the entire world,” while the other side will demonstrate two ships crossing the canal in two opposite directions along with its inauguration date on August 6, a symbol of the canal’s positive impact on the international navigation traffic, he added.

The coin’s design was selected from a big collection of designs. It was made by engineers at the Egyptian Mint Authority; Yasser Saad el-Din and Salma Asaad, said the minister.

“The coins will be presented to kings, presidents, and international delegations attending the inauguration ceremony,” Kadry added, noring that it is also intended to sell part of these coins for local citizens and tourists through the Public Treasury Authority.

The New Suez Canal project will boost the Egyptian economy and increase Egypt’s share in world trade by increasing the number of ships and tankers crossing the Suez Canal, said Kadry.

The Suez Canal Authority expects its revenues to edge up from $5 billion to some $13 billion over the next eight years, thanks to opening the new Suez Canal, the minister stated.

Source: The Cairo Post
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Offline Bimat

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #1 on: July 30, 2015, 09:46:15 AM »
Such a pity that the coin is not being issued in base metal... :-\

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #2 on: July 30, 2015, 11:40:29 AM »
It is not a coin but a token.
It shows no face value and does not claim to be legal tender.

Offline Bimat

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #3 on: July 30, 2015, 11:57:50 AM »
According to this article, the coin has a denomination of one Egyptian Pound...But I agree that it can't be seen anywhere on the 'coin'.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #4 on: July 30, 2015, 04:58:14 PM »
For quite some time, Egypt has been a very conservative issuer of Commemoratives .

There was a time when they issued circulating commemoratives but that has stopped.

Offline Bimat

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #5 on: July 30, 2015, 05:23:15 PM »
For quite some time, Egypt has been a very conservative issuer of Commemoratives .

There was a time when they issued circulating commemoratives but that has stopped.

I agree...some of the silver 5 pound collector coins are very nice indeed! Even the circulating commemorative coins were nicely designed. 8)

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Rammstein

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #6 on: August 11, 2015, 09:02:11 AM »
Hello Friends.

New bimetallic coin 1 Pound Egypt "Suez Canal expansión"
http://www.worldbcnews.com/newissues/newissues.html

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #7 on: August 11, 2015, 09:39:58 AM »
Why does it indicate 2008 as the year of issue?

Offline Rammstein

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #8 on: August 11, 2015, 11:23:38 AM »
2008 is a great year. Beijing Olympic Game.

Wow Pabita, you're so sharp-eyed. Thats denote that the reverse design it is unchanged with the normal version, but is evident that the year of issue/struck will be 2015.

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #9 on: August 11, 2015, 11:34:48 AM »
No.
Perhaps a photoshopped image.
The 1 Pound bimetallic coin was last issued in 2012.
Egypt has been having problems in issuing new coins after the change of regime.

Coins have become more expensive to produce than their face value.
New series may get announced if things change.

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #10 on: August 11, 2015, 11:58:08 AM »
Here is 2010 coin for you

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #11 on: August 27, 2015, 02:18:49 PM »
It is a base metal circulating commemorative from Egypt, after a long time.
« Last Edit: August 27, 2015, 06:40:21 PM by Pabitra »

Offline Jostein

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #12 on: August 27, 2015, 07:03:37 PM »
Here is the coin

What is the source of the picture? It is yours?

Finally is not so rare and strange as expected... ::)
"Change is the law of life. And those who look only to the past or present are certain to miss the future" - John F. Kennedy

http://www.bimetallic-coins.com

Offline Pabitra

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #13 on: August 27, 2015, 07:41:46 PM »
Got it from my friend David

Offline Rammstein

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Re: Egypt: 2015 coin commemorates new Suez Canal
« Reply #14 on: August 28, 2015, 09:02:32 AM »
It is a picture taken from eBay.
Price $1. Very expensive!!!  ;D