RARE currencies dating back decades, historical coins and old bank notes from the private collections of more than 35 international dealers are all going on display tomorrow at the Arados Banknote and Coin Fair in Seef Mall Manama.
Organised by Treasures of the Past for Antiques, the three-day show also includes an auction on Friday of rare bank notes and coins.
Arados founder Mohammed Al Aradi told the GDN that extremely rare bank notes – such as an exclusive Haj note used only in Makkah for Indian pilgrims as part of an agreement between the Indian and Saudi Arabian governments – will be going under the hammer.
“Bahrain has proven over the past several years that it has great potential to be an international hub for foreign investments, alternative investments and tourists that have a taste for history and collectibles,” said Mr Al Aradi.
Mr Al Aradi
“We are seeing our brotherly neighbouring countries taking massive steps towards this industry in terms of exhibitions and I believe Bahrain can be a top destination not only worldwide but also regionally due to our rich culture and history.
“Among the currencies on display will be the second rarest currency in Iraq which hasn’t been seen in any auction – even international shows – for many years which is the King Ghazi five dinar bank note.”
Also on display is a rare 100 Egyptian Pound bank note dating back to 1951, a 10 Indian Rupees banknote dating back to the 1930s and a rare 1,000 Indian Rupees banknote dating back to the late 1930s.
Mr Al Aradi also revealed that several international grading companies will take part in the exhibition, which continues until Saturday at gate one of the mall.
“Bahrain in a promising market for banknotes and coins and here people love their country and are proud of it and they actively study their history, and the history of the GCC and the Middle East,” said Alexey Zemlyakov, a collector and dealer from Russia.
“Banknotes and coins are an accurate witness to the history and the development of states.
“This year, I would like to introduce the history of Islam in Russia to collectors and investors in Bahrain and this will allow for the development of future co-operation with collectors – or investors – from Bahrain and increasing the capacity of the banknotes and numismatics market.”
Meanwhile, Oxenaar BV (a Dutch company for souvenirs) partner and co-founder Michel Jacobs will introduce their first release at the auction.
Mr Jacobs
They have been collaborating with Arados and Mena Souvenir to release their new product – bespoke souvenir banknotes – in the Arabian Gulf.
It includes three collectible banknotes portraying His Majesty King Hamad, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and the late Amir HH Shaikh Isa bin Salman Al Khalifa.
“This sets an excellent stage for a successful auction and more events to follow in the future with an audience that appreciates precious art and collectibles and truly values the items offered,” he said.
“We are confident that each item deemed precious and appealing will find a new owner in Bahrain and he who acquires them will display them with pride in his collection.”
Legacy Currency Grading president and chief executive Jason Bradford said that the central location of Bahrain and the regional ease of travel allows business to be conducted in an efficient and easy manner.
Mr Bradford
GENI, a coin grading company, is also taking part in the event to certify the authenticity of coins, and its CEO Florian Chauvin believes that Bahrain could turn into a strategic destination for auction deals – both in person and online.
Mr Chauvin
“Bahrain offers valuable opportunities for businesses and the best market access for growing Gulf economics and beyond,” he said.
The event is open from 4pm to 10pm tomorrow and from 2pm to 10pm on Friday and Saturday.
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