The establishment of the de facto Egyptian gold pound coin standard was a movement from the Khedival decree of 1834 that allowed for the bimetallic silver and gold standard based on the famous trade coin within the region known as the Maria Theresa Thaler. The gold standard culminating in the introduction of the Egypt Gold Pound happened from 1885 to 1914. At the time, one Egyptian pound equated to about 7.4375g 100% gold.
The first Egyptian gold pound coins were minted between 1837 and 1900. The first coins to be issued were in the denominations of 1 pound and 20, 10 and 5 piastre gold coins. The Egyptian 50 gold piastre coins were issued in 1839 while the 25 gold piastre came up in 1867. New coinage came into force in 1885 leading to a significant termination of gold coin mintage save for small amounts of 10 and 5 piastre coins. Later on, Egypt 1 gold pound coin came back between 1916. This would later be extended to the 5 pound, 50 piastre and 20 piastre from 1922 to 1923. The coins continued to be issued to mark significant milestones in the Egyptian history.
For example, the Egyptian 1 pound gold coin minted between 1953 and 1958 was a commemoration of the June 23, 1952 revolution. It weighs 8g with 1.1958 t/oz (0.875 fineness), is 24mm wide and themed on archery and horse chariots on the obverse and a reverse with a stylized bird beneath two text inscription texts and the Islamic year in English and Arabic. The Egyptian pound 5 gold coin issued during the same period also bears similar features as the 1 pound although it has brighter gold. Similarly, the 5-pound gold coin minted between 1958 and 1971 commemorated the commencement of The High Dam construction and weighed 42.5g with 1.1956 actual gold weight and a fineness of 0.875 in its 33mm width.
The Egyptian gold pound coin has been minted for and on behalf of Egypt by the British Royal Mint. Egypt is only second to Russia in terms of coinage demand from the Royal Mint. Trading in the coins is VAT-exempt.
