Libya's 1975 coinage was produced under the government of Muammar Gaddafi's socialist Jamahiriya state, just four years after the 1971 nationalization of foreign oil interests. The Central Bank had undergone a full restructuring following the 1969 coup, and this series marked one of the first fully domestically authorized decimal issues under the new order.
The copper-nickel clad steel construction reflects raw material cost pressures common across North African mints in the mid-1970s.
Libya's 1975 coinage was produced under the government of Muammar Gaddafi's socialist Jamahiriya state, just four years after the 1971 nationalization of foreign oil interests. The Central Bank had undergone a full restructuring following the 1969 coup, and this series marked one of the first fully domestically authorized decimal issues under the new order.
The copper-nickel clad steel construction reflects raw material cost pressures common across North African mints in the mid-1970s.