Gold coin from Umayyad Caliphate could fetch more than £1m at UK auction

Rare inscribed dinar dates back to 6th century

Umayyad caliph Al Walid I, who is mentioned on the coin, built Al Aqsa Mosque in Jerusalem. AFP

A gold coin from the Umayyad Caliphate could be sold for more than £1 million ($1.1m) when it goes under the hammer in the UK later this month.

The Umayyad Caliphate ruled a large part of what is now the Middle East from 660 to 750.

Although coins from the period are common, the Arabic phrase inscribed on the dinar is said to be rare.

“Ma’din Amir Al Mu’minin”, meaning Commander of the Faithful, is the formal title of the ruler of the Muslim community.

The coin was in use for about three years, said the Classical Numismatic Group (CNG), which is organising the auction.

The CNG says it is the first coin from the years 711-712, corresponding to the 93rd year of the Hijrah, to come up for auction.

Gold coins from 7th century found hidden in wall — in pictures

• 

  A coin featuring the image of eastern Roman emperor Phocas. Archaeologists in Israel say 44 pure gold coins dating to the 7th century have been found hidden in a wall at a nature reserve. All photos: Israel Antiquities Authority

• 

  Dr Gabriela Bijovsky, a currency expert at the Israel Antiquities Authority, examines the coins.

• 

  The hoard sheds light on the end of the Byzantine rule in the area. The Byzantine Empire was the eastern half of the Roman Empire.

• 

  The remains of a water fountain, near the place where the coins were found.

• 

  The hoard, which weighs about 170 grams, was found at the Banias site.

• 

  An image of Emperor Heraclius and his son on one of the coins.

• 

  Some of the coins feature the image of Emperor Phocas but most are from the time of his successor Heraclius.

The coin is predicted to fetch £700,000 but could go for more than £1 million, the group said.

“The small, remarkable Umayyad dinars … are small, beautiful, astonishingly rare historical documents,” said Stephen Lloyd, a specialist in Islamic coins at the CNG.

He added that evidence points to the coins being “only ever struck in small quantities, which is consistent with their great rarity today”.

Hoards of silver coins found in Sharjah — in pictures

• 

  Sharjah Archaeology Authority has unearthed an ancient jar filled with hundreds of priceless coins.

• 

  The trove dates to the third century BC.

• 

  The designs are a mix of those common to the area and unfamiliar.

• 

  The coins were minted and circulated in Mleiha.

The coin also refers to the sixth Umayyad caliph, Al Walid I.

He conquered north-west Africa, Spain and lower Central Asia and also built Al Aqsa Mosque in Jerusalem, the Prophet’s Mosque in Madinah and the Great Mosque of Damascus.

The coin will be offered at CNG’s Islamic auction in London on October 27.