UAE commemoratives of 2012

[paisepagal]

IMO, in the UAE's case, oil is what put them on the path to prosperity and it's hard to believe your average emirati would be anywhere as rich and as educated without that oil shipped out internationally . An important milestone indeed.

In fact, I would dare to say commemorating the ONGC on a coin in India's case is even more suspect. But I suppose one could view it as a methaphor for India's first step towards self reliance.

[Coinsforever]

But I suppose one could view it as a methaphor for India's first step towards self reliance.

I agree ONGC has even attempted to spread their wings in central Asia as well as part of south America & Africa.

Let's hope one day luck strike to have a vast oil fields in Indian territory.

Cheers

[paisepagal]

Shale gas is the next big thing... China, us, Poland and south Africa would probably benefit the most out of it... Buy with India only recently selling off E&P blocks... The chances are on the positive side that something big will be hit eventually. And yes, if you do a quick fact check of ONGC's balance sheet over the last decade, it's surprising to notice how many assets they hold world wide.

[Figleaf]

It is hard to generalise, but there is no automatic connection between natural resources and development. Consider a list of resource rich countries: Saudi Arabia, Russia, Burma, Brazil, South Africa. Contrast that with a list of resource poor countries: Dubai, Hungary, Japan, Mexico, Egypt. No pattern there. There are a few cases, especially in Africa where finding oil has actually meant bad news: Nigeria and Moçambique are examples.

Peter

[paisepagal]

It is hard to generalise, but there is no automatic connection between natural resources and development. Consider a list of resource rich countries: Saudi Arabia, Russia, Burma, Brazil, South Africa. Contrast that with a list of resource poor countries: Dubai, Hungary, Japan, Mexico, Egypt. No pattern there. There are a few cases, especially in Africa where finding oil has actually meant bad news: Nigeria and Moçambique are examples.

Peter

Uhm, not really generalising here... We were specifically talking about the UAE in whose case oil has definitely been a factor... It's a different fact that Dubai has no more oil, but Abu dhabi does, and millions of barrels of it.
Else yes, in general terms, d'accord

[$$]

UAE 1 dirham 2012 - Magnetic ordinary type

New circulating type:

The 2012 (AH1433) composition for KM#6.2 ordinary circulating 1 dirham (made of copper-nickel) has now a magnetic core, so must be considered a new subtype. It has been minted at the Royal Canadian Mint.

(news and image by Wolfgang Schuster)

[Coinsforever]

Got this coin in my hand , not yet check if magnetic or not.


Cheers

[Globetrotter]

Contrast that with a list of resource poor countries: Dubai, Hungary, Japan, Mexico, Egypt. No pattern there. Peter

Hi,

I lived in Mexico for 9 years and do they have OIL (Pemex)? Oh yes. 50 liters for 5 euros in those days, cheap to fill in the car.... and they still have plenty of off-shore oil. In Oman it is still that price, I know, since I go there twice a year to visit my daughter.

Oman still has the ackward coin system with 1.000 baisa to a rial, but you can get used to it.

Best regards

[Pabitra]

In addition, the 2012 Dirham is lighter. It is 6.2 grams as against 6.4 grams of earlier one.
Perhaps a new #KM sub-number, if not a number.

[Globetrotter]

Is it also magnetically attired?

[Pabitra]

I am yet to have this coin but Wolfgang has informed that this coin is attracted to magnet.
I should be able to check it after I have obtained this piece in WMF Berlin on 1st Feb.

[Globetrotter]

Have a nice week-end in Berlin

Take care

[Pabitra]

Thanks.
Had a hectic and gruelling weekend in Berlin.
It is to confirm that this coin is magnetic i.e. is attracted by magnets.
Persumably more Nickel than Copper, as compared to earlier copper-nickel coins.

[Globetrotter]

or they may simply have covered a steel round with nickel (or just left the steel)?