Five Rare Coins That Might Be in Your Drawer Right Now: A Look at Egyptian Republic Issues

Many Egyptians keep tin boxes or wooden drawers filled with old coins inherited or accumulated over the years, without realizing that some of these pieces may be worth thousands of pounds. Egyptian Republic coins (from 1953 to today) are not all alike: there are rare issues, experimental issues, and striking errors that auctions compete for.

In this article, we survey five coins from the Republic era that may be in your possession without you knowing their true value. Check your collection after reading this — you might be surprised.

Coin One: 10 Piastres 1956 (Suez Canal Nationalization Commemorative)

The year 1956 witnessed a massive historical event: the nationalization of the Suez Canal under President Gamal Abdel Nasser. To commemorate this event, the Cairo Mint struck a limited commemorative issue.

Key specifications:

• 720 silver
• Weight 14 grams
• Diameter 33 mm
• Obverse: Republic emblem; reverse: inscription mentioning the canal's nationalization

Why is it rare? The issue was very limited, and most pieces circulated and were used, reducing their grades. Pieces in MS-63 and above are very few today.

Current market value:

• VF condition: 1,500–3,000 EGP
• AU condition: 4,000–8,000 EGP
• MS-63 and above: 12,000 EGP and up
• Rare Proof examples (if found): exceed 25,000 EGP

How to identify it? Look for "United Arab Republic" inscribed on the obverse, with the date 1956 / 1376 AH, and on the reverse a clear inscription mentioning the canal's nationalization.

Coin Two: 25 Piastres 1960 (Aswan High Dam Opening – Phase One)

The year 1960 witnessed the start of work on the Aswan High Dam, one of the largest engineering projects in modern Egyptian history. A silver commemorative coin was struck to celebrate this occasion.

Key specifications:

• 720 silver
• Weight 12.5 grams
• Diameter 30 mm
• Design featuring a symbol of the dam and a commemorative inscription

Why is it rare? Many of these coins were melted down in later periods due to rising silver prices. Remaining pieces in good condition are scarce.

Current market value:

• VF condition: 800–1,500 EGP
• AU condition: 2,500–5,000 EGP
• MS-63 and above: 7,000 EGP and up

Tip: don't confuse it with the 25 piastres 1964 struck to mark the diversion of the Nile's course — a different issue with different prices.

Coin Three: 1955 Gold Pound (Revolution Commemorative)

As part of celebrating the third anniversary of the July 1952 Revolution, the Mint struck a commemorative gold pound in very limited quantities. This issue is among the rarest early Republic coins.

Key specifications:

• 875 gold
• Weight approximately 8.5 grams
• Obverse: modern Republic emblem; reverse: date and Revolution symbol

Why is it rare? The mintage was tiny, and most pieces were sold by their owners during economic crises in the 1960s and 1970s, where they were melted down for gold value only.

Current market value:

• Gold value alone: approximately 12,000–14,000 EGP (depending on gold prices)
• As a collector piece in AU condition: 20,000–35,000 EGP
• In MS-63 and above: 50,000 EGP and up

Note: due to its high value, this piece is a common target for counterfeiting. Professional examination is essential before any sale or purchase.

Coin Four: 5 Silver Pounds 1968 (Centennial of the First Egyptian Postage Stamp)

In 1968, Egypt celebrated 100 years since the issuance of the first Egyptian postage stamp. A 5-pound silver commemorative coin was struck.

Key specifications:

• 720 silver
• Weight 25 grams
• Diameter 40 mm
• Advanced artistic design with fine details

Why is it rare? The issue was elite, aimed at collectors, and mintage was very limited compared to circulating coins. Proof examples of this coin are among the most valuable modern Egyptian silver pieces.

Current market value:

• VF condition: 1,200–2,000 EGP
• AU condition: 3,500–6,000 EGP
• MS-64 and above: 10,000 EGP and up
• High-grade Proof: 20,000–30,000 EGP

Coin Five: 10 Piastres 1973 (Crossing of the Suez Canal)

Struck just days after the October 1973 victory to commemorate the crossing of the Suez Canal. It carries enormous historical emotional value alongside its material worth.

Key specifications:

• Nickel
• Weight 5 grams
• Diameter 26 mm
• Obverse: symbolic scenes of the crossing; reverse: commemorative inscription

Why is it rare? Although struck in large quantities, most pieces saw heavy circulation. Pieces in MS-65 and above are very rare today. There are also very limited Proof issues struck for official bodies and dignitaries, and these are the most valuable pieces in the series.

Current market value:

• Standard circulated: 50–200 EGP
• MS-65 and above: 1,500–3,500 EGP
• Proof issues: 8,000–15,000 EGP
• Pattern (experimental) examples: may exceed 25,000 EGP

Striking Errors: Hidden Treasures

Beyond inherently rare coins, there are striking errors on ordinary coins that dramatically raise their value. Look for:

Double Strike: inscriptions or images appear lightly duplicated. May raise an ordinary coin's value 10 to 50 times.

Off-Center Strike: the design is shifted away from the coin's center. The larger the shift while the date remains readable, the higher the value.

Clipped Planchet: parts of the coin are missing due to a flaw in the blank before striking.

Wrong Planchet Strike: very rare, where a coin of one denomination is struck on a planchet meant for another. These pieces achieve extraordinary auction prices.

How to Examine Your Coins Yourself?

Follow these six steps:

• Gather your old coins in one place: especially those you think are "ordinary," as they may hide surprises.
• Look for important dates: 1955, 1956, 1960, 1968, 1973 — these years saw commemorative issues.
• Check the metal: silver coins are heavier than nickel, and gold coins much heavier. A simple kitchen scale suffices for initial distinction.
• Use a magnifying lens: to detect striking errors or rare issues.
• Compare against databases: sites like Numista or NGC Coin Explorer contain images and specifications of most Egyptian coins.
• Don't clean!: no matter how dirty the coin looks, cleaning destroys its value (refer to our article on cleaning mistakes).

What to Do If You Find a Valuable Piece?

Three steps in order:

1. Don't rush to sell. The local market may give you far less than the true global value. The dealer needs a profit margin, so always offers a price below market.

2. Determine the actual grade. A piece with a "good" appearance may be at AU-55, and one with an "excellent" appearance may reach MS-65. The difference in value can reach tenfold.

3. Grade professionally before selling. A coin without a certificate sells at "ordinary" price; a coin documented at a high grade sells at "rare" price. The cost of grading is a tiny fraction of the difference.

Bottom Line

Egyptian Republic coins aren't just memories from the recent past — they carry within them rare pieces that may be worth a small fortune. The difference between a coin in a drawer and a coin at an international auction is only this: knowledge and documentation.

Start examining your collection today. Ten minutes of investigation may reveal that your family's legacy holds more than you imagine.