Egyptian precious metals firm Najm El-Din has introduced a commemorative coin to commemorate the October 6 victory, with various weights of gold and silver. This move aims to revive the concept of numismatics in the Egyptian market and link investment in precious metals to documenting national events and symbols. The company seeks to provide a new type of product that combines investment and historical documentation.
According to Mahmoud Najm El-Din, CEO of Najm El-Din for Precious Metals, the Egyptian precious metals and coins market has traditionally relied on traditional bullion and coins with repetitive designs. However, the concept of coins with historical and artistic value has not received sufficient attention. Najm El-Din emphasized that these coins go beyond the idea of owning a specific weight of gold or silver, becoming collectibles with historical and artistic value.
The company's new coin issuance marks a shift towards developing a new concept for coins in the local market, combining investment, collectibility, and historical documentation. This approach allows the private sector to contribute to creating products with an Egyptian identity, rather than relying on imported designs and templates. The coin is made of 24-carat gold and 999-purity silver, achieving a balance between the investment value of the metal and the artistic and historical value of the coin.
The design of the coin went through multiple stages of engineering and artistic work to present details reflecting the scenes of the Egyptian forces' crossing and victory in the October War. The design employed the ultra-high relief technique to show the details of the scene, including soldiers during the crossing, raising the Egyptian flag, and assault boats in the Suez Canal, along with Bar-Lev lines. Advanced finishing techniques were used to create a visual appearance that combines shiny surfaces and frosted details.
The coin features the phrase "Victory of October 6 - 10 Ramadan 1393 AH," referencing the coincidence of the military victory with the month of Ramadan and its national and historical significance. The issuance is available in multiple weights, including the ounce with a weight of 31.1 grams and the pound with a weight of 8 grams, providing different options for those wishing to acquire the coin or invest in precious metals.
Najm El-Din stated that the launch of the coin represents a message from a new generation in the precious metals industry seeking to develop the Egyptian market and move it away from traditional patterns. He emphasized that the company is not selling grams of metal but documenting history and proving that Egyptian hands and minds can produce coins that rival global issuances in terms of accuracy and beauty.
The company aims to establish the concept of historical and investment collectibles in the Egyptian precious metals market, where the value of the coin extends beyond the weight of the metal and its price to include design, rarity, and historical value.
Key points
- The commemorative coin is made of 24-carat gold and 999-purity silver.
- The coin's design features scenes of the October War, including soldiers crossing the Suez Canal.
- The issuance is available in multiple weights, including the ounce and the pound.
