Tuesday 17 September 2013

OMAN COMMEMORATING 50 YEARS OF UN-1945-1995-50 BAISAS (Commemorative coin)

The rial  is the currency of Oman.its ISO 4217 international currency code is OMR. It is divided into 1000 baisa. 
Before 1940, the Indian rupee and the Maria Theresa Thaler (known locally as the rial) were the main currencies circulating in Muscat and Oman, as the state was then known, with rupees circulating on the coast and Thaler in the interior. Maria Theresa Thaler were valued at 230 paisa, with 64 paisa equal to the rupee.
In 1940, coins were introduced for use in Dhofar, followed, in 1946, by coins for use in Oman. Both coinages were denominated in baisa (equivalent to the paisa), with 200 baisa to the rial. The Indian rupee and, from 1959, the Gulf rupee continued to circulate.
In 1970, the rial Saidi (not to be confused with Saudi riyal) was made the currency of Oman. It was equal to the British pound and replaced the Gulf rupee at a rate of approximately 21 rupees to the rial. The new rial was subdivided into 1000 baisa. The rial Omani replaced the rial Saidi at par in 1973. The currency name was altered due to the regime change in 1970 and the subsequent change of the country's name.
In 1970, a coinage for all of Muscat and Oman was introduced. Denominations were 2, 5, 10, 25, 50 and 100 baisa. In 1975, new coins were issued with the country's name given as Oman. ¼ and ½ rial coins were introduced in 1980.
In 1995 the coin was issued for the first and last time.its Weight is 6.4 grams and Diameter is 24 mm.The coin was issued diring the reign of Sultan Qaboos bin Said Al (1971--) and is made up of copper (75%) and nickel (25%). The front shows Coat of arms(khanjar dagger in a sheath in front of 2 crossed swords ) and Sultans name around it. The front shows U.N. emblem and the  year commemorating 50 years of U.N foundation. 
Currently the coin is not circulating and costs more than $10.

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