UNITED STATES OF AMERICA. Saudi Arabia - United States. Gold 4 Pounds, ND (1945-46). Philadelphia Mint. NGC MS-61.

Fr-190; KM-34. Aramco issue. Struck for use as a concession payment to the Saudi government in exchange for oil. A satiny example with scattered marks over the surfaces that help determine the grade. A highly popular type, this denomination appears at auction far less frequently than it used to, suggesting the intriguing story behind the issue has resulted in long-time placement inside a significant number of collections. These were minted at the United States Mint in 1947 for payment to the Saudi Government for oil drilled from Saudi lands by the hybrid American oil venture that had located oil in Saudi Arabia in the early 1940s. Despite being an American issue, the gold was struck in the exact fineness and with the same weight as a British Sovereign. This was due to Saudi Arabia's close ties at the time to the British Empire. Under pressure that Saudi Arabia would nationalize oil fields in the 1950s the American interests in Saudi Arabia's oil were forced to split profits in the kingdom making these issues moot for any future considerations.