The 1 pound coin (alternatively 1 gineh and at periods 100 qirsh or 100 ersh) is a current circulation and commemorative coin of the modern Arab Republic of Egypt and its precursors. The Egyptian pound (Arabic: جنيه مصرى [ɡeˈneː ˈmɑsˤri, ˈɡeni-]; abbreviations: £,[3] E£,[4] £E,[5] LE,[6] or EGP in Latin, and ج.م. in Arabic, ISO code: EGP) is the official currency of Egypt.
The Egyptian currency has had a significant evolution in history. Learning about the Egyptian currency system will help you stay updated about currency exchange rates and will help you plan your investment.
Origins in the Ottoman Empire
The first pieces of the denomination were made during Egypt's period as an eyalet of the Ottoman Empire, and then during the time of the Ottoman khedivate. Examples were made from 1838 to 1839, 1839 to 1853, 1861 to 1875, in mid 1876, and from late 1876 to 1888, respectively during the reigns of Sultans Mahmud II (1789-1839), Abdülmecid I (1823-1861), Abdülaziz (1830-1876), Murad V (1840-1904), and Abdülhamid II (1842-1918). In 1834, during the Egyptian period as an Ottoman eyalet under Sultan Mahmud II, Wāli and self-declared Khedive Muhammad Ali (1769-1849) issued a decree establishing a bimetallic currency to replace the previous piastre. As a result, the pound (genēh) was introduced, divided into 100 piastres (ersh) and 4,000 para.
In the wake of this currency reform, Egypt minted a gold coin known as the bedidlik, equal to 100 piastres, and a silver rial coin of 20 piastres corresponding to the Maria Theresa thaler.
The First 1 Pound Coin (1838)
In 1838, during the later reign of Mahmud II, the first 1 pound coin of the currency system was issued, having presumably been struck at a mint in Egypt. It was issued again the previous year in 1839. Such a piece is composed of .875 fine gold, weighs approximately 8.5 grams, and measures 21 millimeters in diameter.
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Engraved in the center of the obverse is the tughra of Sultan Mahmud II, which reads in Ottoman Turkish "محمود عدلى خان بن عبدالحميد مظفر دائماً" (Romanized: Mahmud-u Âdlî Han bin Abdülhamid muzaffer daima), translating to English as "Mahmud II Khan son of Abdülhamid is forever victorious". Engraved horizontally below on two lines is the face value "ش ١٠٠" (100 sh), the letter "ش" (šīn) being an abbreviated form of the Arabic denomination name "قرش" (ersh). Written on three lines on the reverse is the Arabic legend "ضرب في مصر" (Ḍáraba fī Maṣr), which translates as "struck in Egypt". Above the "ب" (bāʾ) is the regnal year of Mahmud II in which the coin was minted, printed in Eastern Arabic numerals, and below the final word "مصر" (Maṣr) is the Islamic date, also in Eastern Arabic numerals, when Mahmud became Sultan, "١٢٣٣" (1233). The total mintage of the pound coin of Mahmud II is currently unknown.
Tughra of Mahmud II
1 Pound Coins Under Abdülmecid I (1839-1854)
Abdülmecid I (Abdul Mejid I) succeeded his father as Ottoman Sultan in 1839, and reigned until his death in 1861. During his rule, Muhammad Ali governed Egypt until 1848, Wāli Ibrahim Pasha (1789-1848) in late 1848, Wāli Abbas I (1812-1854) from 1848 to 1854, and Wāli Sa'id Pasha (1822-1863) from 1854 to 1861. A new 1 pound coin for the monarch was introduced in 1839 and produced annually until 1854, during the administrations of all four of Abdülmecid's subordinates in Egypt.
The piece is composed of .875 fine gold and has a mass of 8.5 grams and a diameter of 21 millimeters. The tughra of Abdülmecid I, which reads "عبد المجيد خان بن محمود مظفر دائماً" (Abdülmecid Han bin Mahmud muzaffer daima) and translates from Ottoman Turkish as "Abdülmecid Khan son of Mahmud is forever victorious", is featured in the center of the coin's obverse. Engraved above the hançer in the tughra is the stem of a rose, which on some examples is fairly large and straight, but on others smaller and more curved. As on the pound of Mahmud, the coin's face value "ش ١٠٠" (100 sh) is displayed below the tughra on two lines. Printed on three lines in the middle of the reverse is the text "ضرب في مصر" (Ḍáraba fī Maṣr), which is shown in a similar, albeit slightly modified style from Mahmud II's coin. The regnal date of Abdülmecid I in which the coin was produced appears in Eastern Arabic numerals above the "ب" (bāʾ) in the text, whereas the Islamic date when the Sultan ascended the throne is engraved in Eastern Arabic numbers as "١٢٥٥" (1255) below the word "مصر" (Maṣr). On examples with the straight obverse rose, the text on the reverse is larger than on curved rose counterparts. The mintages of the coin of Abdülmecid I are currently unknown, but only business strikes are known to exist.
Similar 100 ersh pieces dated from the second year of Abdülmecid I were produced in Sudan during the rule of self-proclaimed Mahdi Muhammad Ahmad (1844-1885) around 1885.
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Coins of Abdülaziz (1861-1876)
After Abdülmecid I died from health complications in 1861, his younger brother, Abdülaziz (Abdul Aziz), succeeded him as Sultan that year and held the position until 1876. During his reign, Egypt was governed by Wāli Sa'id Pasha from 1861 to 1863 and then by Wāli (later Khedive) Isma'il Pasha (1830-1895) from 1863 to 1876. Two 1 pound coins of Sultan Abdülaziz were issued for circulation, and an additional pattern was struck. One of the coins was minted almost annually until 1875, while the other and the pattern were produced alongside it, solely in 1863. All examples are made of .875 fine gold, weigh approximately 8.5 grams, and measure 21 millimeters in diameter. They have medallic alignment and are round in shape.
The obverse features the tughra of Abdülaziz, inscribed with "عبد العزيز خان بن محمود مظفر دائماً" (Abdülaziz Han bin Mahmud muzaffer daima) in Ottoman Turkish, translating to "Abdülaziz Khan son of Mahmud is forever victorious". On the coin that was issued until 1875, a curved rose stem appears above the hançer in the tughra, but on the other piece and the pattern this decoration is not present. Inscribed horizontally on two lines below the tughra is the face value "ش ١٠٠" (100 sh), the letter "ش" (šīn) printed significantly larger than the numeral. The text "ضرب في مصر" (Ḍáraba fī Maṣr) appears on three lines in the center of the coin's reverse in a larger size than on the pieces of Mahmud II and Abdülmecid I. The regnal date in which the coin was struck appears in Eastern Arabic numerals above the "ب" (bāʾ) in the inscription, while the Islamic date of Abdülaziz's accession to the Ottoman throne is displayed below the word "مصر" (Maṣr) in Eastern Arabic numbers as "١٢٧٧" (1277). The total mintages of the piece issued from 1861 to 1875 and the pattern are currently unknown. However, a reported 20,000 examples of the 1863 coin without a rose were made, according to the Standard Catalog of World Coins.
The Short Reign of Murad V (1876)
Abdülaziz was deposed by his ministers in 1876, and Murad V, the nephew of Abdülaziz and eldest son of Abdülmecid I, was declared Sultan. During his short 93-day reign, Isma'il Pasha governed Egypt as Khedive. Under Isma'il's authorization, a 1 pound coin was produced in the name of the new Ottoman leader. Like the pieces of Murad's predecessors, it is composed of .875 fine gold, weighs 8.5 grams, and measures approximately 21 millimeters in diameter. The tughra of Murad V, which reads "محمد مراد خان بن عبد المجيد مظفر دائماً" (Mehmed Murad Han bin Abdülmecid muzaffer daima) in Ottoman Turkish and translates as "Mehmed Murad Khan son of Abdülmecid is forever victorious", is displayed in the center of the coin's obverse. Engraved above the tughra's hançer is a curved rose stem similar in appearance to that appearing on some of the coins of Abdülaziz.
Printed horizontally on two lines below the tughra is the value "ش ١٠٠" (100 sh), the numeral displayed in a smaller font than the letter "ش" (šīn). "ضرب في مصر" (Ḍáraba fī Maṣr) is written on three lines in the middle of the coin's reverse, in a size smaller than on the pound coin of Abdülaziz but larger than on the pieces of Mahmud II and Abdülmecid I. The numeral "١" (1) appears above the letter "ب" (bāʾ) in the legend, identifying production during the first (and only) year of Murad V's reign, and the Islamic date "١٢٩٣" (1293) appears below the word "مصر" (Maṣr), signifying the year in which Murad became Sultan. The total mintage of the 1 pound coin of Murad V is currently unknown.
Abdülhamid II's Coins (1876-1888)
Abdülhamid II (Abdul Hamid II), the second-born son of Abdülmecid, succeeded his brother, Murad V, as Ottoman Sultan following the latter's deposition in 1876. Under the monarch, Isma'il Pasha governed Egypt as Khedive until 1879, Tewfik Pasha (1852-1892) ruled from 1879 to 1892, and Abbas II (1874-1944) administrated from 1892 to 1909. Under the earlier two khedives, two pound coins for Abdülhamid II were produced for circulation. The first was introduced in 1876, under Isma'il Pasha, and minted intermittently until 1883, under Tewfik Pasha. The second was produced circa 1888. In addition, an unissued pattern was made in 1887.
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Both circulated coins are composed of .875 fine gold and weigh approximately 8.5 grams. However, the initial piece measures about 21 millimeters in diameter, whereas the 1888 example measures 24 millimeters. The pattern is made of copper. Featured in the center of both circulation coins is the tughra of Abdülhamid II, which reads "عبد الحميد خان بن عبد المجيد مظفر دائماً" (Abdülhamid Han bin Abdülmecid muzaffer daima) in Ottoman Turkish and translates to English as "Abdülhamid Khan son of Abdülmecid is forever victorious". The "الغازي" (El Ghazi), meaning "the veteran", that appears in the Sultan's full tughra above the hançer is not present, nor is the date under the hançer and the "تاريخ" (sânî; English: "second") under the beyze. In place of the missing "الغازي" (El Ghazi) is a curved rose, and written below the tughra on two lines is the value "ش ١٠٠" (100 sh). All of the aforementioned elements are displayed smaller on the coin of 1888, which is decorated with a five-notched scalloped floral border near the rim.
The text "ضرب في مصر" (Ḍáraba fī Maṣr) appears on three lines on both of the coin's reverses, shown in a slightly larger font on the 1888 piece. On the latter of the two coins, the "ب" (bāʾ) lacks the dot below it, and the two dots of the "ي" (yāʼ) are shown to the upper left of the "ر" (rāʾ) as opposed to above it as on the earlier piece. The regnal date in which the coin was minted appears in Eastern Arabic numerals above the letter "ب" (bāʾ), whereas the date of Abdülhamid II's accession is written as "١٢٩٣" (1293) below the word "مصر" (Maṣr). Just like on the obverse of the 1888 example, the reverse is decorated with a five-notched scalloped floral border. The rims of both pieces are raised.
The pattern piece, produced at a mint in Berlin, was designed by Prussian artist Emil Weigand (1837-1906). The tughra of Abdülhamid II that appears on the circulation coins of his reign is featured at the top center of the obverse, a curved rose engraved above the hançer. Written horizontally below the tughra on two lines is the value "ش ١٠٠" (100 sh). A wreath and two crossing quivers full of arrows are displayed along the periphery of the piece, extending from the bottom of the piece to the left and right rims. A small "W", the signature of the artist, is presented at the bottom of the piece, between the bottom periphery and the wreath. The remainder of the coin's rim is occupied by seven five-pointed stars. Printed in thuluth style at the top center of the reverse is the Arabic motto "العدل والانصاف أساس الملك" (al-Adl wa al-Ansaf ássasa al-Mulk), which translates as "Justice and Equity are the Foundations of the Monarchy". Written below that, on three lines, is the common legend "ضرب في مصر" (Ḍáraba fī Maṣr). The regnal date in which the coin was produced, "١١" (11), is printed above the word "العدل" (al-Adl), while the date of Abdülhamid II's accession, "١٢٩٣" (1293), is displayed below "مصر" (Maṣr). The total mintage of the initial pound coin of Abdülhamid II is currently unknown. The Standard Catalog of World Coins reports 4 examples were made in 1881, and classifies pieces from 1879 and 1883 as "rare" and lacks valuations for them. As such, coins from 1876 are considered the most common.
Sultanate of Egypt (1914-1922)
The next Egyptian pound coin would not be struck until 1916, during the reign of Hussein Kamel (1853-1917) of the short-lived Sultanate of Egypt. In 1914, the British, who occupied Egypt in the 1880s, proclaimed an Egyptian Sultanate and abolished the Khedivate. As a result Egypt became a British protectorate and the Ottoman Empire, then fighting against the United Kingdom in World War I, was weakened. Abbas II was deposed during a state visit to Vienna, and his uncle, Hussein Kamel (1853-1917), was declared Sultan of Egypt.
In 1916, under the new monarch, the Egyptian government issued a .875 fine gold 1 pound (100 piastre) coin with the same metrics as the 1888 piece of Abdülhamid II, measuring 8.5 grams in mass and 24 millimeters in diameter. Engraved in a large font in thuluth style at the top of the obverse is the Arabic text "حسين كامل السلطان" (Hussein Kamel al-Sultan), which translates literally as "Hussein Kamel, the Sultan". The Islamic date "١٣٣٣" (1333), corresponding to the Gregorian "1914", the date when Hussein Kamel became leader, is written horizontally below the text in a significantly smaller size.
A wreath consisting of two branches tied together by a ribbon extends along the periphery of the piece, engraved from the bottom of the piece to the upper left and right rims of the obverse. The value of the piece is fully written out in Arabic as "قرش ١٠٠" (100 ersh) at the top of the reverse on two lines, the numeral and word similar in size. Displayed below this in thuluth, notably larger, is the legend "المصرية السلطنة" (al-Maṣriyya al-Salṭanat), meaning "Egyptian Sultanate". The value in Latin script is shown below on two lines as "100 PIASTRES" with the number displayed in a larger font than the following denomination. Of these, the former is engraved horizontally, while the latter curves slightly downward, in the direction of the wreath underneath. This wreath is similar in design to that appearing on the obverse, occupying the same portions of the rim. However, on the reverse some of the leaves at the right of the illustration are longer and portions of the ribbon are omitted.
The Gregorian date of minting is printed in Western Arabic numerals as "1916" along the coin's bottom periphery, to the left of the wreath's ribbon, while the Islamic equivalent is shown as "١٣٣٥" (1335) to the right of the same element, also at the periphery. Around 10,000 original business strikes of Hussein Kamel's pound coin were produced, along with an unreported number of proofs.
Evolution of money from Barter System to Digital Payment Methods
Kingdom of Egypt (1922-1953)
Under Hussein Kamal's successor, Fuad I (1868-1936), a kingdom was established in Egypt in 1922, and in this year the monarch introduced his first pound coin. This was accompanied from 1929 to 1930 by a new type under Fuad, and then in 1938 by another under his son and successor, Farouk I (1920-1965).
Republic of Egypt and Arab Republic of Egypt (1953-Present)
The succeeding Republic of Egypt introduced commemorative pound pieces in 1955 and 1957, and the current Arab Republic of Egypt has been producing memorial coins of the denomination since 1968. A 1 pound circulation coin was introduced in 2005, and subsequently produced in a new subtype from 2007 to 2011. All of the pieces, excluding those from the eras of Ottoman control, the Sultanate, and the Kingdom, currently carry a legal tender face value equivalent to 1.00 Egyptian pounds in Egypt and unofficially in the Gaza Strip.
Egyptian Pound Coin
Modern Egyptian Pound Coin
The Egypt 1 Pound coin was issued by the Arab Republic of Egypt in 2021 or AH1442 in the Hijri calendar. This commemorative coin is part of the Decent Life series featuring the Egyptian countryside development. One side of the coin depicts the country name, the denomination, and the year. On the other side are an Egyptian farmer and wheat stalks. The bimetallic coin is composed of a brass-plated steel center and a nickel-plated steel ring. It weighs 8.5 grams and has a 25-mm diameter.
On 1 June 2006, 50 PT and E£1 coins dated 2005 were introduced, and its equivalent banknotes were temporarily phased out from circulation in 2010. The coins bear the face of Cleopatra VII and Tutankhamun's mask, and the E£1 coin is bimetallic.
Denominations and Popular Names
Several unofficial popular names are used to refer to different denominations of Egyptian currency. These include (from the word nickel) nekla (نكلة) [ˈneklæ] for 2 milliemes, ta'rifa (تعريفة) [tæʕˈriːfæ] for 5 milliemes, "nos franc" (نص فرانك) for 2 piastres, shelen (شلن) [ˈʃelen] (i.e. a shilling) for 5 piastres, bariza (بريزة) [bæˈriːzæ] for 10 piastres, and reyal (ريال) [reˈjæːl] ("real") for 20 piastres. Since the piastre and millieme are no longer legal tender, the smallest denomination currently minted being the 25 PT coin (functioning as one-quarter of E£1), these terms have mostly fallen into disuse and survive as curios.
Historical Coinage
Between 1837 and 1900, copper 1 and 5 para, silver 10 and 20 para, 1, 5, 10, and 20 piastre (pt), gold 5pt, 10pt. Copper 10 para coins were introduced in 1853, although the silver coin continued to be issued. Copper 10 para coins were again introduced in 1862, followed by copper 4 para and 21⁄2 PT coins in 1863. In 1885, the para was replaced by the millieme in order to decimalise the currency and a new coinage was introduced. The issue consisted of bronze 1⁄4, 1⁄2, 1, 2 and 5 millieme (m), silver 1 PT, 2 PT, 5 PT, 10 PT and 20 PT coins. In 1916 and 1917, a new base metal coinage was introduced consisting of bronze 1⁄2m and holed, cupro-nickel 1m, 2m, 5m and 10m coins. Silver 2 PT, 5 PT, 10 PT and 20 PT coins continued to be issued, and a gold E£1 coin was reintroduced.
Between 1922 and 1923, the gold coinage was extended to include 20 PT and 50 PT and E£1 and E£5 coins. In 1924, bronze replaced cupro-nickel in the 1m coin and the holes were removed from the other cupro-nickel coins. Between 1954 and 1956, a new coinage was introduced, consisting of aluminium-bronze 1m, 5m and 10m and silver 5 PT, 10 PT and 20 PT coins, with the size of the silver coinage significantly reduced. An aluminium-bronze 2m coin was introduced in 1962. Aluminium replaced aluminium-bronze in the 1m, 5m and 10m coins in 1972, followed by brass in the 5m and 10m coins in 1973. Aluminium-bronze 2 PT and cupro-nickel 20 PT coins were introduced in 1980, followed by aluminium-bronze 1 PT and 5 PT coins in 1984. In 1992, brass 5 and 10 piastre coins were introduced, followed by holed, cupro-nickel 25 piastre coins in 1993.
Egyptian Banknotes
Banknotes
In 1899, the National Bank of Egypt introduced notes in denominations of 50 PT, £1, £5, £10, £50, and £100. Between 1916 and 1917, 25 PT notes were added, together with government currency notes for 5 PT and 10 PT issued by the Ministry of Finance. All Egyptian banknotes are bilingual, with Arabic texts and Eastern Arabic numerals on the obverse, and English texts and Western Arabic numerals on the reverse. Obverse designs tend to feature an Islamic building with reverse designs featuring Ancient Egyptian motifs (buildings, statues and inscriptions).
During December 2006, it was mentioned in articles in Al Ahram and Al Akhbar newspapers that there were plans to introduce £200 and £500 notes. As of 2024, there are £200 notes circulating but there are still no plans for issuing £500 notes.[15] Starting from 2011 the 25 PT, 50 PT and £1 banknotes were phased out in favour of more extensive use of coins. The governor of the Central Bank of Egypt announced that the Central Bank of Egypt will issue polymer notes by the beginning of 2021. This change comes as the CBE moves its headquarters to the new administrative capital.[17] On July 31, 2021, the President of Egypt reviewed the notes of £10 and £20, to be issued in November 2021.[18] In August 2021, the Central Bank was forced to confirm that rainbow holograms on the new banknotes were a secure watermarking feature to prevent counterfeiting, after online critics suggested it was a covert message of support for LGBT rights.[19][20] Just nearly 2 years after the £10 note was released, the Central Bank of Egypt released the new £20 polymer banknote.
Table of Key Historical Periods and Rulers
| Period | Ruler | Coin Features |
|---|---|---|
| Ottoman Eyalet | Mahmud II | First 1 pound coin, tughra of Mahmud II |
| Ottoman Eyalet | Abdülmecid I | Tughra of Abdülmecid I, rose stem above hançer |
| Ottoman Eyalet | Abdülaziz | Tughra of Abdülaziz, curved rose stem |
| Ottoman Eyalet | Murad V | Tughra of Murad V, curved rose stem |
| Ottoman Eyalet | Abdülhamid II | Tughra of Abdülhamid II, floral border |
| Sultanate of Egypt | Hussein Kamel | Arabic text "Hussein Kamel al-Sultan", wreath design |
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