1 Pound National Bank of Egypt 100th Anniversary

The National Bank of Egypt was founded in 1898 under a concession granted by the Khedivate, initially as a private institution with British backing — not a central bank in the modern sense, but a note-issuing commercial bank operating under Egyptian law while the country remained under de facto British occupation. Full nationalization didn't come until 1960 under Nasser. This centenary issue appeared during a period when Egypt was producing commemorative gold at a pace that outstripped collector demand, and many pieces from this run moved slowly through official channels.