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The E-Sylum: Volume 19, Number 34, August 21, 2016, Article 40

ISLAMIC STATE COINS ON EBAY

Islamic State coinage set Islamic State coinage set reverse

Pabitra Saha writes:

Once you asked about Islamic State coins' availability. They are being sold now by an Hungarian dealer.

Pabitra included a link to the eBay listing, which describes the lot only as: "Islamic State set / 2015 / UNC / Fantasy coinage. Not in circulation."

It's a Buy It Now item priced at US $20.90 plus $4 shipping. The seller also offers an array of cheap world coins and paper money, including fantasy issues.

I'm not sure what to make of this. The composition is not stated, but these do not look to be silver or gold, and at that price, they can't be. The purported Islamic State coins were said to be made in silver and gold. Are these unauthorized copies? Base metal versions from the same dies? Is there any actual tie to Islamic State? Was that a credible story about ISIS coins and dies being confiscated in Turkey?

An article published August 12, 2016 by Richard Giedroyc of Numismatic News discusses the alleged gold issues of the group. -Editor

ISIS gold Coin Early July reports originating in Mosul, Iraq, indicate a gold composition dinar coin issued by the terrorist group has been introduced in a serious attempt to replace the U.S. dollar. Activists in Deir-ez-Zor, Syria, have reported oil traders in ISIL-occupied oil fields are now being forced to purchase oil by using these gold dinars. Both of these reports were substantiated by the London-based Arabic daily newspaper Al-Quds Al-Arabi.

An online forum post by a German jihadi terrorist group was recently translated by The Foreign Desk. According to the translation, the jihadi group is boasting the ISIL group has shown resilience by issuing the gold coins despite the U.S. and its allies “hounding” the terrorists.

The post claims the 1-, 2- and 5-dinar gold coins will “bring about the collapse of the U.S. dollar” and the “demise of the United States.” The rationale of the post is based on the 55-minute 2015 video, “Dark Rise of Bank Notes and The Return of the Gold Dinar,” released by ISIL in which it views bank notes as “oppressive” while claiming the gold coins will bring the United States “to her knees.” The terrorists want to see all oil sales globally paid for in gold rather than in dollars.

A February report indicates ISIL continues to trade in U.S. dollars, paying its fighters’ salaries in dollars as well.

To read the Numismatic News article, see:
ISIL launches ‘circulation’ gold coins (www.numismaticnews.net/article/isil-launches-circulation-gold-coins)

To read earlier Coin World articles, see:
Can ISIL issue its own coins? (www.coinworld.com/news/world-coins/2014/11/can-isis-issues-its-own-coins--.html)
SOME COINS SHOULD BE OFF-LIMITS TO COLLECTORS (www.coinworld.com/voices/bill-gibbs/2015/12/some_coins_shouldbe.html)

To read earlier E-Sylum articles, see:
ARE ISIS COINS BEING MINTED IN CHINA? (www.coinbooks.org/esylum_v18n01a26.html)
ISIS MINT FOUND IN TURKEY (www.coinbooks.org/esylum_v18n41a21.html)

Wayne Homren, Editor

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The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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