UAE: new issues for 2011

[Coinsforever]

UAE releases silver commemorative coins
Updated on Sunday, January 23, 2011, 00:06

Abu Dhabi: The Central Bank of the United Arab Emirates (UAE) is issuing silver coins to mark 50 years of archaeological excavations in the emirate of Abu Dhabi.

The commemorative coins are 40 mm in diameter, weigh 40 g and are made of 92.5 silver and 7.5 percent copper, the bank said.

The minted coins will be handed to the Abu Dhabi Culture and Heritage Authority (ADACH) and will not be sold to the public, it added.


Source :zeenews

[Bimat]

UAE's first gold bullion coin unveiled

DUBAI -- In recognition of the visionary leadership of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, and His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and following the success of its 'Visions of Dubai' gold coins initiative, the Dubai Multi Commodities Centre Authority, DMCC, the Government of Dubai entity dedicated to enhancing commodity trade flows through Dubai, unveiled on Monday the prototype of the first gold bu-llion coin in the UAE.

Designed by DMCC, the "Khalifa" coin features a portrait of Shaikh Khalifa on one side, and on the other, Burj Khalifa, the world's tallest tower.

DMCC is also in discussions with the UAE Central Bank to designate the gold bullion coin as the first legal tender in the UAE and the Middle East as a whole.

A national legal tender gold coin will stand as an internationally recognised symbol of pride and recognition of the UAE's achievements much like the Canadian Maple Leaf, Australian Nugget, South African Krugerrand and others.

Source: Zawya

[Bimat]

According to this article, the 'coin' weighs 5 ounce and will cost 30,000 Emirates Dirhams (~$8,168). (I think selling price will depend on spot price of gold, which is currently $8,900 for 5 ounce)

Aditya