Saturday 16 October 2021

Bahrain coin may become collector's item

Manama, March 28, 2011

Bahrain's 500 fils coin that depicts the GCC Roundabout could become a future collector's item after the monument was pulled down.

The coin, which was first introduced in 2000, is no longer issued by the Central Bank of Bahrain (CBB) but it is still being circulated in the economy.

'It is still being used, but it just doesn't get handed out to people who go to CBB as the printing of the coin was stopped a long time ago,' said a bank official.

Due to the fact that it is no longer minted in Bahrain, the coin could be a rarity in years to come, said Bahrain Philatelic Society president Mohammed Al Janahi.

'If you have a 500 fils coin, then you can exchange it for a note at the bank, or you can keep it as one day I am sure it will become a collectable coin,' he said.

The coin shows the GCC Roundabout, locally known as Pearl or Lulu Roundabout, printed on a cupro-nickel ring and brass centre.

The roundabout had been taken over by anti-government protesters, who had set up camp in the middle of the intersection. It was first occupied on February 15, but was cleared in the early hours of February 17 in a police operation that resulted in the deaths of four protesters as well as injuries to both police and demonstrators.

The intersection was later reclaimed by protesters on February 19 before security forces went in on March 18 to clear people who had once again set up camp underneath the monument.

It was pulled down by authorities in an operation that started during the early hours of March 18.-TradeArabia News Service

Tags: Bahrain | banking | finance | money | Coin | collectors item |

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