America’s Strangest Gold: The Secret Saudi “Coins” Struck by the U.S. Mint for Oil Payments

America’s Strangest Gold: The Secret Saudi “Coins” Struck by the U.S. Mint for Oil Payments


In the mid-1940s, the United States Mint struck one of the most unusual forms of American gold ever produced: anonymous gold disks made not for collectors or commerce, but to pay oil royalties to Saudi Arabia. When you hold and ounce of Silver ( or Gold) you are now holding barrels of oil, tons of mining equipment, much labor, and tons of ore that had to be crushed and processed....all in that one ounce of Silver. So my question is if the source of the gold for this mint run was the reserve or was it sourced another way?

Author: Coinweek


Published at: 2025-12-29 21:35:08

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