Egypt 1957 5 pounds

Heritage sale 3030, lot 23497

This specimen was lot 23497 in Heritage sale 3030 (New York, January 2014), where it sold for $7,637.50. The catalog description^[1] noted, "Republic gold 5 Pounds 1957 - AH1377, MS66 NGC, a stunning example of this beautiful commemorative marking the 5th anniversary of the revolution which toppled the monarchy under King Farouk. Fully lustrous and most attractive, one of the nicest specimens we have seen. From The Formosa Collection." 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 with purges of the Egyptian political system by Anwar Sadat. This type is accompanied by a gold half pound (Fr-43) and one pound (Fr-40).

Recorded mintage: unknown.

Specification: 42.5 g, 0.875 fine gold, 1.195 troy oz AGW.

Catalog reference: Fr-116 (formerly Fr-41), KM 388.

Source:

Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 9th ed., Clifton, NJ: Coin and Currency Institute, 2017.
^[1]Bierrenbach, Cristiano, Warren Tucker and David Michaels, Heritage World and Ancient Coins Auction 3030, featuring the RLM Collection, the Isaac Rudman Collection, the Hans Cook Collection and the Collection of Donald E. Bently, Dallas, TX: Heritage Auction Galleries, 2013.

Link to:

Egypt 1957 5 pounds

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