Description
House of Emirates is so thrilled to offer its elite clientele the FIRST EVER tokenized First UAE dirham struck in 1973.
This exceptional coin of a great historical significance was the first ever currency for the newly formed nation. This historical decision to issue a united currency was ordained by the visionary founder of the UAE, HH Sheikh Zayed Ben Sultan AL Nahyan.
Now you can own this magnificent coin physically and on the blockchain at the same time.
Order it from our blockchain marketplace:
https://app.galileoprotocol.io/productDetails/349
The First UAE Dirham
It was issued on May 19, 1973, replacing the currencies previously used in the country, such as the Qatari riyal and the Bahraini dinar. The UAE dirham became the national currency following the unification of the emirates in 1971.
Key Facts About the 1973 Dirham:
- Design: The 1973 series included coins with the emblem of the United Arab Emirates, featuring a traditional dallah (Arabic coffee pot) as a symbol of hospitality.
- Denominations: Coins were issued in denominations of 1, 5, 10, 25, and 50 fils, as well as 1 dirham. Banknotes in denominations ranging from 1 to 100 dirhams were also introduced.
- Material: The coins were primarily made of cupronickel for higher denominations and bronze for lower denominations.
- Pegged Currency: The dirham was initially pegged to the IMF’s Special Drawing Rights (SDR) but later fixed to the US dollar in the 1980s at a rate of approximately 3.67 dirhams per dollar.
This marked the establishment of a unified monetary system for the UAE, symbolizing economic and political stability in the newly formed federation.
