What is Dinar? A Gold Dinar is a gold coin first issued in 77 AH (696-7 CE) by Caliph Abd al-Malik ibn Marwan. The name “dinar” is derived from denarius, a Roman currency. The weight of the dinar is 1 mithqal (4.25 grams). The Islamic gold dinar (sometimes referred as Islamic dinar or Gold dinar) is a bullion gold coin made from 4.25 grams of 22 carat gold with historical Islamic significance. Another Islamic money is Dirham which is a specific weight of pure silver equivalent to 3.0 grams. Umar Ibn al-Khattab established the known standard relationship between them based on their weights: "7 dinars must be equivalent to 10 dirhams."
The World Islamic Trading Organisation following the standard of caliph Umar Ibn al-Khattab, established the following standard:
Dinar weight: 4.25 grams
Alloy: 22 carats (0.916) Gold
Diameter: 23 millimeters
Dinar were first struck to the contemporary standard of 4.4 grams and with one or more Arabic Standing figures on the obverse and an Arabic legend on the reverse. Dated coins exist from 74 AH and are named as 'Dinars'. These experimental issues were replaced in 77 AH, except in North Africa and Spain, by completely epigraphical designs very similar to the designs adopted for the silver pieces but with a shorter reverse legend and no annulets or inner circles. This type was used without appreciable change for the whole of Umayyad period, the coins being struck to a new and carefully controlled standard of 4.25 grams. This weight was reputed to be based on the average of the current Byzantine solidi, was called a mithqal, a term used earlier for 1/72 of a ratl. The issues in gold from North Africa began as copies of the coins of Heraclius and his son (but with an abbreviated Kalima in Latin), the reverse 'cross on steps' losing in most cases its cross piece.
Photo of Heraclius Coin by: britishmuseum.org
In Malaysia there is 3 kind of Dinar available for sale; Public Dinar, Dinar Kelantan and Dinar Muslim. The usage of dinar was mooted out by Malaysia's fourth prime Minister, Dr. Mahathir bin Mohamad. He was know for his durability and outspoken figures on the world political stage, has been prime minister of Malaysia since 16 July 1981. Dr. Mahathir has played a pivotal role in the confident march of his people towards Vision 2020, his blueprint for Malaysia's advance towards fully developed status.
Public Dinar is own by Public Fine Gold International Sdn. Bhd. A Malaysia company based in Bukit Jambul, Penang. There is three kind of Dinar coins available for Public Dinar; 1 dinar, 5 dinars and 10 dinars. All of the dinar coin is following the Islamic Dinar standard by using a 916 gold (22 carats). The design of the dinar is different from each other. You can visit their website publicdinar.com to check for the live spot dinar prices. You need to contact them via email or phone if you want to buy. Upon agreement, payment should be transfer within 1 1/2 hour.
Dinar Muslim is own by Nusantara Bullion Exchange Sdn Bhd. A Malaysia company based in Petaling Jaya, Selangor. The company is just 6 months old and most of their gold come from Dubai. There is three kind of Dinar coins available for Dinar Muslim; 1 dinar, 2 dinars and 8 dinars. You can visit their website nubex.com.my to check for the live spot dinar prices. You need to register at ther website and lock the price online. After your online purchase, you need to contact them via email or phone on method of payment.
Dinar Kelantan own by Permodalan Kelantan Berhad. A Malaysia company based in Kota Bharu, Kelantan. Kelantan Gold Dinar is created by state government of Kelantan in 20 September 2006. There is four kind of Dinar coins available for Dinar Kelantan; 1 dinar, 2 dinars half dinar and quater dinar. You can visit their website dinarkel.com. Dinar Kelantan only available from all Ar-Rahn under Permodalan Kelantan Berhad outlet in Kelantan Province.
Current price for the dinars (Selling/Buying):
Public Dinar
1PD - 567 / 533
5PD - 2825 / 3670
10PD - 5625 / 5344
Muslim Dinar
1DM - 559.63 / 526.05
2DM - 1106.42 / 1045.57
8DM - 4391.44 / 4127.95
Why do people buying Gold Dinar? Gold have high degree of liquidity. It can be turned into paper money easily. Saving using gold will help you earn a pasive income. This year alone, gold prices been going up to 37% from January 2009. Which is way much better then saving your money in unit trust. With a recent economic uncertainty, saving in gold is a save way to make sure your money don't run away from you. All of the gold Dinar coin is a hot items for this few weeks since the uptrend price of gold. All of the Dinar have their own collector with their own opinion about the dinar. As long as it is gold, It doesn't matter to me. Gold price has been up and reach its high record price at $1,213 per ounce and it will keep on rising with so many news about country keeping gold as a saving and investment.
Source: PublicDinar, Nubex, Dinar Kelantan.
