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ISIS announces new currency
WillieBoyd2
Posts: 5,036 ✭✭✭✭✭
From CNN:
ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday.
Its aim is to stay away from the "tyrant's financial system," ISIS said in a statement.
It said it would issue another statement to explain the new currency's exchange rate, and where it can be found.
The currency will include seven coins: two gold, three silver and two copper.
The move is "purely dedicated to God" and will remove Muslims from the "global economic system that is based on
satanic usury," ISIS said.
The group, which calls itself the Islamic State, has seized large swaths of territory in Iraq and Syria.
It seeks to establish an Islamic caliphate in the region
Been done before:
Umayyad Caliphate Abd al-Malik AE Follis Standing Caliph
Obverse: Caliph standing facing, left hand on sheathed sword
Reverse: Steps, long pole in circle
Bronze, 20mm, 2.81gm, Struck AD 685 to 705
ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday.
Its aim is to stay away from the "tyrant's financial system," ISIS said in a statement.
It said it would issue another statement to explain the new currency's exchange rate, and where it can be found.
The currency will include seven coins: two gold, three silver and two copper.
The move is "purely dedicated to God" and will remove Muslims from the "global economic system that is based on
satanic usury," ISIS said.
The group, which calls itself the Islamic State, has seized large swaths of territory in Iraq and Syria.
It seeks to establish an Islamic caliphate in the region
Been done before:
Umayyad Caliphate Abd al-Malik AE Follis Standing Caliph
Obverse: Caliph standing facing, left hand on sheathed sword
Reverse: Steps, long pole in circle
Bronze, 20mm, 2.81gm, Struck AD 685 to 705
https://www.brianrxm.com
The Mysterious Egyptian Magic Coin
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The Mysterious Egyptian Magic Coin
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DPOTD
Doggedly collecting coins of the Central American Republic.
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Highly enthusiastic about world coins, contemporary circulating counterfeits and unusual stuff
<< <i>I'm guessing these coins won't be allowed to sell on eBay. >>
I'm sure eBayers will find a way. Many Cuban and Sudanese issues selling on eBay each week. It's frustrating because I have a saved search for "south Sudan" and am always getting results for "south Sudan" listings that are in fact Sudan. The Cuban issues are typically listed by date and variety (like "Souvenir peso") so I suspect IF anyone wants to sell ISIS coins they will do the same. They could probably list "Islamic State coin" and get away with it.
To be honest, my friends, I am on the fence about these coins from a collector standpoint. I have many coins from warring African nation start-ups like Katanga, Biafra, etc. and while you might argue those were positive circumstances - and perhaps they were - I am wondering how this is any different. If the coins are only around for a year or two, will they be valuable 20 years later? War happens, many people die, coins get struck. Should I abstain from buying Alexander the Great coins?
To play my own devil's advocate, I do abstain from Nazi coins. None of those German swastika in my house. But other folks collect them ... and they sell ...
Amat Colligendo Focum
Top 10 • FOR SALE
That may mean I never buy the coins as presumably ISIS supporters will make them and will retain plenty of them to sell in years to come (even after ISIS is destroyed). As ISIS is stealing the local inhabitants money (and gold) there is a good chance that the coins will contain blood gold (from murdered owners). If ISIS is destroyed and these coins seized by "the good guys" then I'll buy.
<< <i>As ISIS is stealing the local inhabitants money (and gold) there is a good chance that the coins will contain blood gold (from murdered owners). … >>
A possibility which I had not considered. Good thinking. The Nazis did not do this? We know they took their POW money and gold, did they use it to strike their coins? I guess there weren't really many WWII gold pieces struck, huh?
Amat Colligendo Focum
Top 10 • FOR SALE
<< <i>
<< <i>I'm guessing these coins won't be allowed to sell on eBay. >>
I'm sure eBayers will find a way. Many Cuban and Sudanese issues selling on eBay each week. It's frustrating because I have a saved search for "south Sudan" and am always getting results for "south Sudan" listings that are in fact Sudan. The Cuban issues are typically listed by date and variety (like "Souvenir peso") so I suspect IF anyone wants to sell ISIS coins they will do the same. They could probably list "Islamic State coin" and get away with it.
To be honest, my friends, I am on the fence about these coins from a collector standpoint. I have many coins from warring African nation start-ups like Katanga, Biafra, etc. and while you might argue those were positive circumstances - and perhaps they were - I am wondering how this is any different. If the coins are only around for a year or two, will they be valuable 20 years later? War happens, many people die, coins get struck. Should I abstain from buying Alexander the Great coins?
To play my own devil's advocate, I do abstain from Nazi coins. None of those German swastika in my house. But other folks collect them ... and they sell ... >>
Why is Cuba prohibited on eBay, but offered on Heritage and other sites? The transactions that you see is a fraction of what it could have been. Why isn't there a pre-Castro period and one after? Ebay shouldn't play politics: if other numismatic houses and dealers found a legit way to trade embargo hit Cuban coins and notes, it should do the same.
myEbay
DPOTD 3
NCLT (non-circulating legal tender) coins.
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<< <i>Why is Cuba prohibited on eBay, but offered on Heritage and other sites? The transactions that you see is a fraction of what it could have been. Why isn't there a pre-Castro period and one after? Ebay shouldn't play politics: if other numismatic houses and dealers found a legit way to trade embargo hit Cuban coins and notes, it should do the same. >>
Although numerous individuals and entities, including the Cuban Numismatic Association, have petitioned eBay and PayPal to not penalize the sale of pre-Castro coins, according to PayPal they can't take the time to verify which coins are pre-Castro and which coins aren't. Coin World published an article on the subject:
www.coinworld.com/numismatic/coins/us-20th-century/ban-at-ebay-on-cuban-coins-angers-collectors.html
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"Everything I have is for sale except for my wife and my dog....and I'm not sure about one of them."
<< <i>I am beginning to wonder if this story is a hoax or a scheme to market
NCLT (non-circulating legal tender) coins.
I think its a hoax also, except the idea is to draw a connection between sound money and terrorism