Egypt 1956 50 piastres

Steve Album sale 39, lot 3737

In 1953 the monarchy was ousted by a junta of army officers and the first republic established. After the initial euphoria, the junta, its support waning, decided to participate in the Arab attack on Israel of 1956. This resulted in ignominious defeat and only American intervention saved the regime. In 1958 Egypt, under Gamal Nasser, joined in a formal alliance with Syria. Thus, from 1958-1971, Egypt became officially the 'United Arab Republic'. The alliance with Syria did not last long, and the title was abandoned in 1971 during a purge of the Egyptian political system by Anwar Sadat. This specimen was lot 3737 in Stephen Album sale 39 (Santa Rosa, CA, January 2021), where it sold for $156. The catalog description^[1] noted, "EGYPT: Republic, AR 25 piastres, 1956/AH1375, Nationalization of the Suez Canal: allegorical figure of Egypt unchained with torch right, PCGS graded MS64." Despite the auctioneer's description, this is a fifty piastres, not a twenty-five piastres, altho a twenty-five piastres was also issued on this occasion. This coin is the same module as the twenty piastres (KM 368) last issued in 1939 by king Farouk.

Recorded Mintage: 250,000.

Specification: 28 g, 0.900 fine silver, 40 mm diameter.

Catalog reference: KM-386.

Source:

Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
^[1]Album, Stephen, Joseph Lang, Paul Montz, Michael Barry and Norman Douglas Nicol, Auction 39, featuring the John Sylvester, Jr., Collection of Annamese Medals and Orders, Santa Rosa, CA: Stephen Album Rare Coins, Inc., 2020.

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Egypt 1956 50 piastres

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