The name Dirham derives from the Greek word Drachmae, literally meaning "handful", through Latin.Due to centuries of old trade and usage of the currency, dirham survived through the Ottoman regime.
The United Arab Emirates dirham was introduced 19 May 1973. It replaced the Qatar and Dubai riyal at par. The Qatar and Dubai riyal had circulated since 1966 in all of the emirates except Abu Dhab, where the dirham replaced the Bahraini Dinar at 1 dirham = 0.1 dinar. Before 1966, all the emirates that were to form the UAE used the Gulf rupee. As in Qatar, the emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal.
In 1973, coins were introduced in denominations of 1, 5, 10, 25, 50 fils, and 1 dirham. The 1, 5 and 10 fils are struck in bronze, with the higher denominations in cupro-nickel. The fils coins were same size and composition as the corresponding Qatar and Dubai dirham coins. In 1995, the 50 fils and 1 dirham coins were reduced in size, with the new 50 fils being curve-equilateral-heptagonal shaped.
The value and numbers on the coins are written in Eastern Arabic Numerals and the text is in Arabic. The 1, 5 and 10 fils coins are rarely used in everyday life, so all amounts are rounded up or down to the nearest multiples of 25 fils. The 1 fils coin is a rarity and does not circulate significantly. In making change there is a risk of confusing the old 50 fils coin for the modern 1 dirham coin because the coins are almost the same size.
Since 1976 the currency Board of the United Arab Emirates has minted several commemorative coins celebrating different events iand rulers of the United Arab Emirates .
This coin was minted firstly in 1973 and lastly in 1989(according to Islamic calender between 1393-1409) in Bronze metal.Geoffrey Colley engraved the coin.The coin has a diameter of 27 mm and a weight of 7.5 gram. Front side shows the name of the country as United Arab Emirates and name of the ruler as Al Imarat al Arabiyyah al Muttahidah.And the back side shows Arab Dhow and years 1973-1393 in bottom.
About 6,400,000 coins were minted and now this coin costs more than $ 10.
About 6,400,000 coins were minted and now this coin costs more than $ 10.
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