Egypt's 1986 petroleum commemorative marks the country's development of its Gulf of Suez oil fields, which by the mid-1980s had made Egypt a significant regional producer — a position that directly funded Mubarak-era infrastructure spending. The fields at Ras Gharib and the broader Gulf of Suez concessions were central to Egypt's export revenue at a time when the economy was under considerable IMF pressure.
Struck in .875 fine gold, this falls into a series of Egyptian commemoratives from the period that used crown-sized gold at that fineness rather than the .900 standard more common elsewhere.
Egypt's 1986 petroleum commemorative marks the country's development of its Gulf of Suez oil fields, which by the mid-1980s had made Egypt a significant regional producer — a position that directly funded Mubarak-era infrastructure spending. The fields at Ras Gharib and the broader Gulf of Suez concessions were central to Egypt's export revenue at a time when the economy was under considerable IMF pressure.
Struck in .875 fine gold, this falls into a series of Egyptian commemoratives from the period that used crown-sized gold at that fineness rather than the .900 standard more common elsewhere.