- During the Umayyad period, Caliph ‘Abd al-Malik bin Marwan’ initiated the establishment of a national Islamic currency.
- As part of this endeavor, Christian symbolism was expunged from coinage. An upcoming auction in London will showcase a rare coin dating back to this era.
Morton & Eden’s June 12 auction in London will feature a rare and significant Islamic gold coin. Dating back to circa 691 to 694, the gold solidus of caliph ‘Abd al-Malik bin Marwan is anticipated to fetch between £150,000 to £200,000 ($185,818 to $247,758 U.S.). Weighing 4.27 grams and measuring 20 millimeters in diameter, it is slightly smaller and lighter than a Jefferson 5-cent coin. Its historical and religious significance lies in being among the first gold coin issues to bear the words of the Shahada in its legends, aimed at propagating the principles of Islam. The Shahada, a declaration of faith affirming “There is no God but Allah and Mohammed is the final messenger of Allah” holds paramount importance in Islam.
During the Umayyad period of Arab expansion across former Byzantine and Persian lands, experiments were put in motion by the caliph ‘Abd al-Malik bin Marwan to establish a national Islamic currency.
In former Byzantine regions where the solidus was well-established as the primary gold coin in commerce, the Arabs started by initially removing all Christian symbolism from the coinage but retaining the images of the Byzantine rulers.
The next stage was to eliminate all Latin inscriptions and introduce the Shahada inscribed in kufic script, emphasising the basic tenets of Islam.
Cast around AH 72 to AH 74 (circa A.D. 691 to 694), the featured specimen boasts remarkably pristine condition. Subsequently, the caliph established a purely epigraphic Islamic coinage by AH 77 (A.D. 697), rendering coins akin to this one obsolete.
Tom Eden of Morton & Eden expressed in a press release: “It was very exciting to be shown this coin, which had in the past been assumed to be a standard Byzantine issue. Careful examination of the edge showed that at some stage it was mounted probably in a jewellery setting and this could be a reason for its survival, for coins like this were supposed to be handed in and melted following the introduction of the first purely Islamic dinars in AH 77.
“In the last 42 years only four other examples have appeared for auction – a sign of its great rarity today,” he said.
