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 Replies: 12 / Views: 1,224 |
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Press Manager
 United States
1420 Posts |
 Numismatic News - Mexico tried it and failed during the 1990s. During the early 21st century Bernard von NotHaus tried it and failed (He also got himself arrested!). Now the terrorist organization calling itself ISIL or ISIS thinks they know more about monetary systems than do all the great economics minds of the world. ISIS recently released its gold coins into circulation, insisting their specie coinage will bring the world's fiat money financial system to its knees. 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. Read the Entire Article Subscribe to Numismatic News
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Pillar of the Community
United States
6130 Posts |
Kudos to them if they want to bankrupt themselves by trying to do business with the world they hate by forcing said world to buy these gold coins (probably at a premium) to buy their oil that nobody wants.
What does scare me however is that they are probably making these from melted down ancient treasure. These are the same people who bulldozed a world Heritage site, after all.
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Valued Member
South Africa
331 Posts |
That is one ugly coin, with all the things couldn't they get a better design?
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Pillar of the Community
Canada
5253 Posts |
I find it hard to imagine that these would circulate in this war-torn region. More likely that they would be horded by those who may need to escape somewhere or sent for safe-keeping to a Swiss Bank.
That being said, I would love to have one for my collection!
Would they even be legal to own, say in the US?
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Pillar of the Community
Canada
5253 Posts |
It seems that factual information on these is lacking. I saw one report that said that they were actually plated 21K gold.
And if you can only buy oil from ISIS with these, how do you get them? Buy them from ISIS with US dollars? If someone wants, say, 20,000 barrels of oil, do they bring $1 million of bullion to a war zone and hand it over?
This story has a lot of details missing. If someone knows more I would love to know.
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Moderator
Australia
16862 Posts |
It's not exactly "news" - these things have been around for some years now. They are purely NCLT bullion coins, not intended for anything except ceremonial use. I seriously doubt they are insisting people pay for goods and services with them. The comments I made about them in this old thread from 2014 still stand. Even more so, perhaps, given the fall in status of ISIS since 2014. As for legality, it would be illegal to obtain them directly from ISIS - that would be "providing support to terrorists", something most Western countries have laws against. Buying one on the secondary market, off another collector for example, would be technically legal but as morally questionable as buying Neo-Nazi "coins". I have not researched ebay's attitude to such objects. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Rest in Peace
United States
2668 Posts |
I see the likeness of Mohamed on it.  |
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Pillar of the Community
United States
992 Posts |
Don't even think about buying one of these, from any source. A 'legitimate' marketplace for these terror coins is just going to mean the people who are forced to trade in them can find a way to exchange them for fungible currency or goods. Just because you are not directly acquiring one of these from ISIS/ISIL doesn't mean you're not aiding and abetting these animals.
This is exactly why elephant ivory seized from poachers is burned, to destroy the market.
Edited by paxbrit
08/25/2016 12:00 am
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Pillar of the Community
Australia
3831 Posts |
What are the odds of Operation Bernhard II?
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Pillar of the Community
United States
697 Posts |
Does anyone have connections with ISIS.
China is now minting exact Copy coin 5 gold dinars of the Islamic State.
Maybe if we can motivate ISIS to go after China no-no stores.
Either the counterfeiters and/or ISIS can do our dirty work.
China vs. ISIS I like the sound of that.
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Rest in Peace
United States
2668 Posts |
Yeah, sounds like rat-a-tat-tat and kaboom come to mind.  |
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Pillar of the Community
Norway
1358 Posts |
@Finn: the Turkish regime has warm ties with ISIL, so they might have or want them.
Nevertheless, I also just want one for my collection. It's not because of a stunning design (which it hasn't), but due to curiosity value. Does anyone know where these are minted?
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Pillar of the Community
United States
711 Posts |
I'd buy one for the collection for curiosity too.
No concern over my potential funding of terrorists with this, unless I was paying them some huge premium over melt, which I wouldn't do as I don't need to buy their stolen oil at discount prices.
Maybe this is some of Qaddafi's gold that was intended for his gold currency that was stolen and is now being put into coins?
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Replies: 12 / Views: 1,224 |
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Posted 08/24/2016 1:39 pm
