Largest coin and note auction held successfully at Seef Mall
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Reported by Ashen Tharaka
More than 20 numismatists from around the world took part in a three-day international auction and exhibition of vintage coins and bills which was held at Seef Mall in Manama.
Arados, a Bahraini auction house founded in 2012 and the top auction house in the Gulf region specialising in banknotes, coins, and collectibles, organised the event. Speaking to The Daily Tribune, Arados founder Al Aradi said: “The coins and banknotes are proof or evidence of a time period.
We can learn a lot about a particular civilisation from the coins, for instance, the Byzantine Empire’s use of a cross with a globe to symbolise the might and faith of Christianity. The weight of the coin, especially if it is gold, indicates how robust the economy was at the time.
“The world is moving toward a new type of tourism that is related to history. For example, in the Kingdom of Saudi Arabia, the old city of Al Ulla, there is now a huge market for it. I am very pleased with the customers’ feedback about the event, which has received many positive comments.”
Ancient Coin Al Aradi said: “ The oldest coin I have is from the Lydian empire, where the first coins in history were struck! With the lion’s infamous image, it is 600 BC.The coins were very plain back then; we had the well-known stater coin with the lion and bull mark, and it was made of gold with a purity of 14 to 18 carats.
Because people were forging these coins, the empire at the time began to add marks or half-holes to prove that the coin was actually made of silver or gold a n d not a plating.” Mohammed Ali Alsamarai, an Iraqi numismatic collector, told The Daily Tribune that “Bahrain has a rich history and culture and that the country is home to many knowledgeable coin and note collectors.”
Alsamarai spoke about modern coins and banknotes. “In the next 50 years, we will be able to uncover coins and notes used by European countries, Canada, and Australia in museums. The value of coins and notes has transferred to electronic cards as a result of technology.”
The 1/4 Dinar 1947 that Alsamarai has is worth BD750. Opportunities for Investment Three companies which attended the show have chosen to establish offices in Bahrain, bringing with them employment opportunities History of Bahrain Banknotes and Coins Bahrain has seen its fair share of trade and currency growth since the Taylos Era, when a silver coin imitating the Alexander the Great Silver Drachm was produced locally.
Since then, there have been a few small adjustments, but numerous different currencies, including Roman coins, Byzantine, Islamic empires (particularly the Umayyad Empire), and British India rupees, have been used here.
Several different currencies, including Roman coins, Byzantine, Islamic empires (especially the Umayyad Empire), and British India rupees, have been used here; a few minor alterations have been made since then.
This kind of event will be helpful to create a bigger positive impact, and more foreign companies would want to operate and open in Bahrain which will bring more foreign investment and also tourists.
Queen Elizabeth holding globe cross