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- Spot Silver Price: $32.32
Silver coins were in regular circulation in Saudi Arabia. The values below represent the intrinsic value of silver coins from Saudi Arabia.
Saudi Arabia silver coins that are in uncirculated condition, or that may be rare and collectible may also have numismatic value. You can use this table as a guide when buying and selling circulated silver coins from Saudi Arabia.
The melt values are calculated and displayed in USD based on the today's silver spot price of $32.32 per troy ounce.
| Denomination / Currency | Years Minted | Fineness | Gross Weight (g) | ASW (g) | ASW (oz t) | Melt Value |
|---|---|---|---|---|---|---|
| 1/4 Riyal | 1928- 1930 | .917 | 6 | 5.50 | .1769 | $5.72 |
| 1/4 Riyal | 1935 | .917 | 3.1 | 2.84 | .0914 | $2.95 |
| 1/4 Riyal | 1955 | .917 | 2.92 | 2.68 | .0861 | $2.78 |
| 1/2 Riyal | 1928- 1930 | .917 | 12.1 | 11.10 | .3567 | $11.53 |
| 1/2 Riyal | 1935 | .917 | 5.85 | 5.36 | .1725 | $5.58 |
| 1/2 Riyal | 1955 | .917 | 5.95 | 5.46 | .1754 | $5.67 |
| 1 Riyal | 1928- 1930 | .917 | 24.1 | 22.10 | .7105 | $22.96 |
| 1 Riyal | 1935- 1955 | .917 | 11.6 | 10.64 | .342 | $11.05 |
The history of silver coins in Saudi Arabia is closely tied to the broader history of currency in the Arabian Peninsula and the formation of the modern Saudi state.
Before the advent of Islam, the Arabian Peninsula had a mix of currencies from neighboring civilizations, including Roman, Byzantine, and Sassanian coins.
During the early Islamic period, the region used silver dirhams, which were influenced by the Persian Sassanian designs but gradually adopted Islamic inscriptions and designs.
The Arabian Peninsula, including the region that would become Saudi Arabia, was under Ottoman influence for several centuries.
During this period, various Ottoman currencies circulated, including silver coins like the Akçe and later the Kurush.
The early Saudi states did not mint their own coins but relied on existing currencies in the region, including Ottoman and other foreign coins.
The Kingdom of Saudi Arabia was established in 1932 by King Abdulaziz Al Saud. Initially, the Saudi Arabian monetary system included various foreign currencies, but there was a need for a standardized national currency.
In 1925, before the formal establishment of the Kingdom, the Hejaz and Nejd (precursors to modern Saudi Arabia) began minting their own silver coins. The silver riyal was introduced, which became the foundation of the Saudi currency system.
It was roughly equivalent in size and weight to the Maria Theresa thaler, a widely-used trade coin in the region.
The silver riyal featured Islamic inscriptions and the name of King Abdulaziz, along with the year of minting according to the Islamic calendar.
Over time, as the global economy evolved and precious metal coins were phased out in favor of paper and base metal coins, Saudi Arabia also transitioned away from silver coins.
The Saudi Arabian Monetary Authority (SAMA), established in 1952, oversaw the modernization of the currency system.
Today, while silver coins are no longer in regular circulation, they remain a part of Saudi Arabia's rich numismatic history and are valued by collectors and historians.
The history of silver coins in Saudi Arabia reflects the region's economic and political changes over centuries, from the use of foreign currencies to the establishment of a national currency system under the modern Saudi state.