Saturday، 24 September 2022 - 08:38 PM
The history of coinage extends to a long time, as Egypt relied on other countries to coinage its coins, as this was done in the international coinage houses in London, Bombay, Budapest and Pretoria, South Africa.
Since the coinage represents a manifestation of State sovereignty, the State saw it as a consolidation of the national economy, a complement to the manifestations of national sovereignty in both the industrial and economic spheres and to reduce the exorbitant expenditures that accrue from foreign minting.
For these reasons, the Royal Decree was issued by Law No. 178 of 1950 establishing an Egyptian coinage, and production began to appear in circulation with mid-1954 and this production continued to meet the local needs of circulation in addition to meeting the needs of some Arab countries.