5 Riyals

The Saudi Arabian Monetary Agency was established by royal decree in 1952, and this note belongs to its very first paper currency issue — a significant step for a country that had previously relied on silver Maria Theresa thalers, Indian rupees, and the Saudi riyal coins minted in Philadelphia during the war years. Religious conservatism within the kingdom had long made paper money politically sensitive; earlier attempts to introduce it had generated real public resistance.

Thomas De La Rue produced the complete series to a high standard. The watermark is the sole security feature — modest by any measure, but sufficient for a first issue in a country where paper currency itself was still a novelty.